Will this market go parabolic?

You hear it first on MW...

ANNANDALE, Va. (MarketWatch) -- The stock market's dramatic pullback from its intraday highs Thursday constitutes a textbook illustration of a "key reversal day," which has bearish consequences for at least the stock market's short-term prospects.

http://www.marketwatch.com/story/is-the-stock-market-topping-out-2010-03-26

 

thanks for the link.

interesting that they mention some polls that are extremely bullish, but i get a feeling there are many bears around.

 

Another trend up day coming?

 

By short term, they meant 2 hours.

Market is going up again.

 

Lots of valuable comments here. Keep the debate going. I'm learning a lot.

 

Buy the open today and sell Monday after job report, it should be a guaranteed 5% return.

Anyway today is going to be one of those days where the market opens up, trades sideways then rallies at the close for at least a 1/2% gain. There is less than a 1% chance todays market doesn't turn down anytime between the opening and closing.

 

We have a classic H&S (other shoulder last Tuesday at 1174, head last Thursday at 1181 cash) so if we go down, this is the best time to catch it...

But going back to the OP's question, the daily chart did look like it was going to go parabolic, before going down. We shall see....

 

Out of curiousity, how many times in the last year did we have a "classic" H+S formation, only to blow it out of the water?

 

I wish this parabolic move of 10%, 20%, 35% would just take place in a week or 2, the anticipation of waiting is just too boring. Would be nice to see the markets rally 25% in a month and drop 50% in a week.

 

Everybody said buy and hold is dead... Which means its not!