Are you serious? Everything is possible with bulls full of cash (and greed). However, since 9:50AM, even in EUR/USD which has been rising ferociously, every upmove is met with selling once getting close to highs (eur/usd 1.3434). Markets are trying to say something. Let us see what happens at end of day.
quickly bulls add to your longs on this fantastically irrational pull back! spy@113.50, it's practically free money!!! plus the jobs report comes out tomorrow morning and everyone knows that the economical situation is incredible in the U.S. disclaimer: lol
Today is (yet another) Fed Pomo day, but hopefully the shorts will still win. Quite a coincidence that Pomo days will continue until November, no?
two market movers for tomorrow? Released on 9/23/2010 8:30:00 AM For wk9/18, 2010 Consensus Consensus Range New Claims - Level 450 K 445 K to 475 K Released on 9/23/2010 10:00:00 AM For Aug, 2010 Consensus Consensus Range Existing Home Sales - Level - SAAR 4.050 M 3.870 M to 4.500 M nobody seems to want to bet either way so the market let out some steam yesterday and today.
So many? Bullish sentiment rose 7% to 50.9% in the latest AAII Sentiment Survey (historical average = 39%). Overall, sentiment nearing April 2010 top. Hardly "so many" bears. See you down at the gaps soon!
One survey means nothing, especially since I did not conduct it. I can issue a PR tomorrow with statements about sentiment to all the newswires for 200 USD. Just becuase the data fits your position does not make the data valid.
AAII survey has been around for years. There have been profitable trading systems (longer-term) built off the data. Sorry, but that one survey >>>>>>>>>> your anecdotal evidence from browsing forums. Sentiment is moving to extreme bullishness in other surveys and VIX has been very low as well. You're the one ignoring objective evidence and basing your opinion on biased/subjective evidence. And the kicker is that YOU have to conduct a study for it to be valid?! Maybe you and Stock777 can start your own newsletter or something.