i believe the $indu top will be in the 10150 area. resistance 1st at 9700. it's easy for me to say , i'm not trading in that market at all right now. good trading to all, bp
This market isn't that hard to predict, because it's manipulated. All you have to do is look for classic shorting opportunities and go long. I doubt that the powers that be are going to get it this close to DOW 10,000 without pushing it over. I mean, think about it: they ram the market up for 6 months, get it to 9500 and then let it fall in a massive crash? Yeah right. If they got it this close, they will push it over the 10,000 mark come hell or high water. This entire economy and market is based on managing perspective, and nothing will say "good times are here again" to all the clueless idiots like DOW 10K. It would take something pretty bad coming down the pipe to make that scenario not happen, and so far I don't see anything like that yet.
As powerful as this market is and as bullish 99% of people are in this market, everyone knows sentiment can change in seconds. Even if the markets do take off higher closing in on 10k, then eventually 11k etc, etc, ect, there will be nothing to sustain these type of movements. There will nothing but air under the entire market, it will be the trillions of colored monopoly money holding it up... How anyone thinks you can price in a movement in the markets 20%, 30% 40% or even 50% higher from here is crazy, the economy was running on all cylinders back just 2-3 years ago when corporate earnings were at the peak of their time, unemployment was under 5%, GDP 3%+..... We are no where close to that time and everyone believes the economy is becoming what it once was again, the biggest credit crisis done with in a year. Today the system is broken the economy totally upside down and everyone believes these corporations that make up our economy and the consumers who make up 70% of the US GDP are on the brink of a new beginning, come on.... Seems like its 1 step back and 9049384583 steps forward with every recession or slight pullback in the economy, seems like the harder our economy pushes for quick growth and opportunities the quicker things fall apart.
i laughed at first when i read this thread subject, i thought it was based on superstition with 09-09-09. Another bullish day, and I think weekly jobless numbers will be light tomorrow considering many bosses took off last week. Market may be going up, but I'm also getting good buy-in prices for my short etfs for when a correction occurs
Don't know if it will be 10150 or slightly higher, but that is a very real possibility. In any case, we will see it coming in the price action.
And the futures keep moving higher, tomorrow 9600+ there is no taking down this market, up, up, up it goes. INDEX VALUE CHANGE OPEN HIGH LOW TIME DJIA INDEX 9,561.00 23.00 9,530.00 9,561.00 9,530.00 23:27 S&P 500 1,035.20 2.70 1,032.40 1,035.50 1,031.00 23:30 NASDAQ 100 1,671.00 5.00 1,666.00 1,671.00 1,665.75 23:30
saying this could dissapoint some bulls on et... but many think the markets are overbought now. regardless, bulls could still be right and the markets can keep going up despite any bad data that keeps arising. :eek:
By the way when they say on CNBC that all these people are waiting on the sideline to put money in, who are these people they are talking about. I thought mainstreet was tapped out? Basically is it gov't money?