Nope, Im a bear saying this is not the top.... Why! Earnings season is next week, this is going to drive the markets higher once again. The debt ceiling issue will be resolved, a $1-$2 trillion increase should bring market rallies to the US and beyond. Any other country in trouble, Greece and now Portugal looks to be in trouble will get any bailout they want which means even more rallies for the global market. At the rate this market is moving expect 14,000 by end of August Early Sept! And since you cant buy the dips buy the rallies!
you're wrong here long term debt ceiling resolution would be bearish event logic is very simple - there would be huge borrowing by the government without QE3 those money must come from somewhere and it will be stocks and don't forget oil is a wild card - print more money for bail outs-> higher oil -> depression -> stock collapse don't print money -> oil is table -> stock collapse
Ive been learning about patterns and basically just trading them regardless of my opinions or the opinions of others. Think its the right move.
market moves usually get exaggerated . their will be a good short opportunity coming soon. so patience is key. You have to use common sense. trade price action daily but be aware of the change in trend over the short term. irrational markets offer some good opportunites for directional plays & we have some catalyst to move this market lower this month. Friday Unemployment numbers . Big down day potential ?