price predictors: is right now a double top or are we going to keep going UP?

I think it was Doug Kass last week that said the bottom was put in in early August, I'm leaning on disagreeing with that and thinking around 1050 is where the bottom is. Keep in mind this market is NOT going to break out to new highs, it will be stuck in a tight range for the months to come.

 

Rally to SPY 125ish , will follow to the upper trendline, then drift lower. Should also hit a fib retracment at this point.

QQQ does not have that upper trendline, but will follow the SPY

 

Too many shorts. It will continue to squeeze higher until the shorts capitulate then make up whatever news you want. The market rallied through a hurricane in the streets of DC and NY. We don't even have the money for cleanup----rally. Had that been 2 weeks ago it would have been armageddon. Europe is putting its bandaids on things. Plenty of shorts at the bottom to squeeze. Careful squeezing. Not to hard. Keep squeezing higher and higher until something happens big enough to get some BIG sellers. that's my take.

 

I thought on August 9th or so when the markets reversed and closed up was the last bit of the sell off, well days later the market dipped again. This market is quite impossible to predict, right now everyone is predicting a higher market due to the last 2 days of upward momentum, one day of triple digit losses and everyone will forget about the rally this market just had these last 2 days! The only excuse this market has for upside is shorts being squeezed, ha, that's a lame excuse of a rally!

 

on a 6 month it should fill that gap,on a strong day ,the fact that it didn't get to the lower edge is odd,could mean there are sell orders above and the boys don't want to share(low volume) and snuck in just below,or they stopped it to keep the sellers from turning on the faucets before end of month,if it does get there, a pullback to 118 is likely

 

SP500 intra day chart gives bearish warning after latest counter
trend short covering rally. Daily and weekly charts remain bearish.

 

I predict that you will manage to lose money when either case manifests itself.

 

Market should keep going up from here. Historical patterns suggest the market could hit the 1210 area in the next 10 or so days.

 

Historical patterns suggest that the market hit 1210 last night.

 

Ha, so they do. I did not even have a chance to look at the overnight data before I posted.