Were just getting started. Skys are clearing, lets push 9000 out of the way.... then we are going to sky rocket.
The worst feeling for me is not abiding by my trading discipline and rules and then getting punished for it. I could care less what the market is doing as long as I stick to my own trading discipline and rules. BTW: The 2003 rally took the SP500 higher by 40% over a period of 12 (!) months. This rally so far is clocking in at 35.1% within 8 weeks.
That suff won't matter. The game is now rigged to the upside. Goverment will just lie about the economy. Thats what they do. There may be bread lines out side CNBC but all the masses are going to be fed is good things, nothing bad. It's all rigged in the other direction now.
Biggest, fastest rally since the post-Crash 1930s, and on the back of a weakening economy here and abroad (Europe has abysmal revisions yesterday - they are in deep crap). Markets can irrational longer than individuals can remain solvent, but with the continuing job losses, which is by far the most important indicator of future corporate profits, sticking with one's discipline is now more important than ever.
I agree, somewhat reluctantly. This low volume rally stinks but there are no aggressive sellers. I think the "tilt" is upward REGARDLESS of what's transpiring real world. I'm happy to short along the way, picking up some points on ES near the major resistances.
Did you make those analysis based on the chart you posted. I don't recall 8000 being any kind of historical resistance. Apart from it being a nice round number for psychological purposes, there's nothing else to it. If anything, I can understand calling it a support since this mess started. I can understand if you wanna be bullish, but please don't base it off that chart.