i learned my lesson on what i thought was a valid top call ion the 20 month ma, well over a year ago bottom line is, whatever force it is that is lifting the market couldnt care less about TA
The market is not frothy enough to correct. Everyone wants in! I told you to get in! Everyone is hunting value! Everyone is buying any dip they can find! Market needs to go HIGHER in order to post a correction. We will correct to current levels, maybe to levels a little higher! We are near a FLOOR, not a top. The market is going HIGHER, you should be LONG.
Futures having a slight move to the upside... S&P FUT 1329.0 _ 1.7 +0.13% DOW FUT 12259.0 _ 18.0 +0.15% NAS FUT 2380.25 _ 2.0 +0.08% Tomorrow morning I expect the futures to be up about 1/3 of a percent. Spx could easily close the week above 1350, think about 50 more points and the spx will have touched many analyst predictions for 2011, looks like most will have to raise their forecast over the next couple of weeks. Update: S&P FUT 1330.30 _ 3.00 +0.23% DOW FUT 12266.00 _ 25.00 +0.20% NAS FUT 2382.00 _ 3.75 +0.16%
The majority of analysts predicted between 1400 and 1500 on the S&P 500 in 2011 before the year started. Don't let facts get in the way of a good "story" though. You seem to be the National Enquirer of this site.