Look at all the news that is going to come out on Wednesday: CPI Housing Starts Crude Inventories Beige Book JPMorgan earnings EBAY earnings Sallie Mae earnings Wells Fargo earnings Get ready for a huge day!
Can you post anything positive? Is this always going to be an exclusive doom and gloom and pessimist approach? This got to stop after 3 months. Enough is enough. PS: Since the markets didnot follow through on 4/14/2008 Fridays action, its more likely we shall see some kind of reversal in SPX on Tuesday April 15, 2008.
I will turn bullish when I start seeing some positive numbers and a market reversal. Until that point every number I am seeing looks bad.
PS: Since the markets didnot follow through on 4/14/2008 Fridays action, its more likely we shall see some kind of reversal in SPX on Tuesday April 15, 2008. [/B][/QUOTE] Hummmm. Not quite. On the S&P 500, resistance is clear at 1385 to 1390. Tuesday April 1 was a momentum low and Monday April 7 is the cycle low. Peak upward momentum is Tuesday April 15, with the cycle high on Friday the 18th. *Note that Cycle watchers expect an "inversion" meaning the high should in fact be a low. Remain focused on April 16..... Typical behavior is for the market to spike down into the aspect period of the 15th to the 17th. As we have done...if the market is thrusting sharply lower into the 16th then watch for a potential reversal to the upside in the second half of the week..... what if we rally hard today as I am hoping.... I just don't know.... if there is a down spike it would be on wed the 16th not tues the 15th... today is clear sailing, nothing to be neg about... Empire manufacturing is UP after all! ~ stoney
futures expiration week is always interesting (probability of being up more times than down: possibly something to do with contract expirations) may be we have to wait until next week?
Funny statement from someone who ignores everything bad. Perma bulls and perma bears are equally flawed.
He is labeling me a perma bear but I play both sides. Right now the news is bearish so I am bearish. Makes complete sense to me.
It's really is funny. On one hand you have JackStone running around preaching the end of the world is coming and on the other you have HFT2 running around trying to blow sunshine up every bodies ass. Each one trying to push their unipolar mindset onto everyone else as if their opinion is the only right one. Although I have much more respect for HFT2 than Jack if for no other reason than HFT2 isn't anywhere near the extremist that Jack is...not sure anyone could be. The sad reality of it is the only opinion that is truly right is the market's opinion but neither guy will ever admit that.