As bearish as I am I have to agree. I think the markets in general are all ready to continue the bullish run. I think by the middle to end of 2011 the spx and Dow will reach all time highs and the NASDAQ above 3500. I'm about to throw in the towel by next week and actually sell out all my shorts and go long, with the amount of money the fed is pumping into the system there is no need to worry about the markets in the long term. They are going to contribute trillions of dollars to help the economy, not going stay short this time. I'm bearish as all and predicting new highs on the spx and Dow and 3500+ on the NASDAQ. Time to get long, the train has already left but gains are still coming. Go long and stay long.
I have short term sell signals on GDX and GLD, and they are threatening to become intermediate term sells. These are very closely correlated to the dollar, negatively, and the dollar is in turn very closely correlated, these days, to the stock market, once again negatively. Which means: if the intermediate term sell signal comes in on gold stocks and gold, I'm expecting one will follow for the stock markets within about a month or two thereafter. Intermediate would be for a period of a couple of months, on average. OTOH, 1 - No short term sell yet on stocks, although since I got the short term sell on GDX and GLD, they have been sputtering a bit. 2 - Long term gold and gold stocks still look fine, but over the long term these correlations don't really hold anyway.
Did someone hack into S2007S computer? The ultimate ET bear is now bullish! Could be a major top signal.
I'm actually really thinking this market is headed higher then one could imagine, as I said I am still bearish but at this point I think we are going to see the markets just skyrocket, probably 2006-2007 style than finally sell off in 2012-2013 as stimuls comes to a crawl and rates finally move higher.
my indicator says we stay long.... http://stockcharts.com/h-sc/ui?s=SPY:VXZ&p=D&yr=0&mn=6&dy=0&id=p41914154310
I am in total agreement. Also on monthly candles qqqq is forming a massive reverse head and shoulders. I think qqqq is in mid 60's by 2012.
Mid 60's by 2012?????? I think you meant to say mid 60's by mid 2011. This market is going to rally like it did in the late 90's and 2006-2007. New highs are coming!!! But after this rally is over in the next 2 years get ready for a massive decline, for now though you can get long and not worry one bit.
It's another 20% or so within 13-14 months. It could be much higher but I assume there will be consolidation somewhere along the line. Accept I do not think that we will come crashing back. At some point in time of course there will be a decline just like any market trades but once we break 58-60 on qqqq I think it is staying above that for years. Looking at long term chart of qqqq from early 90's it looks like it is about to go on a great bull run IMO.