For day/swing traders & other interested parties. Market technicals are very overbought. However, we just hit some new multiyear highs on the Dow and S&P. Can these prices hold tomorrow?
I am thinking this market may want to stay in a consolidation mode for a day or two. This run-up has been quite strong and I wouldn't be suprised to see some premature profit taking and then another strong run-up.
why?.. market is allowed and should pull back imo It needs to do what it does best. Suck in swing short money to use as rocket fuel for rally to da moon.. only reason market ever goes sideways/down is to get more short money loaded for fuel....woioiooshhh
I heard (on CNBC) that expected corporate earnings are 20% underpriced. That would make a Dow 13,500 by the end of the year.
Does that company ever beat earnings? Seems like they always start the earning season off with a miss.
Future is down big time now. Tomorrow we will see: Dow : down 55 points NASDAQ : Down 18 points S&P : Down 10 points
Yea really, even with Alum at highs, their earnings still suck. It will be interesting to see how energy prices affected earnings.