Suspending the notion that loyal Elite Traders only trade what they see and not what they think what is more likely?
Break the SP500 200 day ma and recent highs with enough of a pop to suck in the money waiting to buy on a pullback and make the stubborn shorts throw in the towel. Then once everyone is long and complacent, a slow rollover as the economy comes back into focus, culminating in a whoosh of selling as all that supply gets blown out and we crash through the October '02 lows.
Well - suspending the notion! I think crash is more likely over the next several months. But, if my view is wrong - I'd rather be in a mindset to where I'm saying something like, "would you look at that!" rather than find myself saying something like, "wow, what the heck just happended?"
Honestly, it is too close to call. I expected a lot more from the spoos this evening (I know, + 9.75 and I am crying?) I think the market is beginning to HEAVILY discount the war, and only _MONSTER_ news now will move the spoos +25+ premarket. It will be easier to tell once we get a significant number in the middle of the war. GE's nubmers and other numbers coming out this Friday will be interesting if it is a surprise on one side or the other... Just too close to call right now... nitro