sp500 just broke 1410. http://www.elitetrader.com/vb/showthread.php?s=&threadid=65265&perpage=6&pagenumber=88
I'm a bear, and I freely admit it. But when someone is wrong, they're wrong. Big deal. It happens. I don't understand why so many people are so wrapped up in making predictions that they don't leave themselves a little wiggle room - even going so far as commit to leave ET forever if they're wrong. I am now officially licensing the following statement for any ETer to use in the future, free of charge - use it at the end of any statement, ridiculous, or otherwise, and it's like immunity: *Unless I'm wrong.
ANYONE think this 109 point rally will fizzle out to a 28 point gain by 4pm????????????????????????????????????????????????????????????
Ok,Ok, I for one will pardon Thorn, but he should come back under a new handle so we can figure out who he is.. ET is getting too boring and we don't need to lose it's chief stooge. Rennick the Christ-like one out
That "double-bottom" was simply an A-B-C correction in which the B wave happened to make a new high. Last Friday's late buying and the follow thru into today is the beginning of the 5th and final wave/leg up on the Daily SPX chart. New highs are coming.
repost: suprised the markets dont see this: 12-01-06 11:16 PM 1. The National Association of Purchasing Management-Chicago business barometer fell to 49.9 from 53.5 in October. 2. The ISM index fell to 49.5% in November from 51.2% in October 3. Private residential construction spending fell by 1.9% in October after dropping 1.4% in September, the latest evidence the US housing market has pulled back. 4. Orders for US durable goods declined by the most in more than six years and consumer confidence unexpectedly fell. Durable goods orders to US factories plunged in October by 8.3 percent, the largest amount in more than six years.
This volatility is the only the beginning. I think we get another triple digit move to the downside sometime in the next week.