I am by far not the greatest trader, but I looked at so many stocks and indexes just now...i feel as if the market is brushing up against trend lines and its just around the corner. Certainly the economy with so much unemployment and company write-offs cant support this...
People outside of the market, who invest through their company 401k usually re-enter the market after it has made substantial up moves. After several good weeks in a row along with news like we have reached the bottom, the Monday or Tuesday after will see an extension of the rally due to new money. Also, they are not in till 4pm of the day they commit.
READ THIS TECHNICAL ANALYSIS FROM S&P MARKETSCOPE and please donot short your account into oblivion: "Four straight days of gains pushed all three major indexes significantly higher this week. The DJIA gained 4.25% for the week. The S&P 500 rose 4.31% while a strong performance of the tech stocks sent the NASDAQ up 4.92% for the week. Upside momentum is strong as we close out the week. The market internals (advance/decline line, new highs/new lows) improved throughout the week. The upside breakout of the DJIA confirmed the breakout of the DJ transportation index nearly a month ago which signals the turn of the intermediate trend to bullish based on Dow Theory. Both the S&P 500 and the NASDAQ are not far from their respective February highs and with the strength in the market, their breakouts look imminent."
See, the problem here is that prediction based bias will immediately fry those who are wrong, and fry those who are correct later. ~ JMHO of course. The real profit happens when one learns what to do when they are wrong. I subscribed to this guy and recommend the same to all! http://youtube.com/watch?v=8m5oLQ5qLns Definitely worth checking out IMHO! ~ Steve