Jan correction started the day AA reported earnings. I know that "this time is different" but AA is reporting on Mon...
up weeks in a row: SPY, QQQQ 6 XLE 2 XLF 9 one of my models projects SPY touching 114 next week (4.5% drop). needless to say, i don't believe that model.
Shortie, I have a title suggestion for you for next week's poll. "Is DOW 11,000 a bull trap?" An analyst believes a lot of people will go long after DOW 11K because it's a sign that everything is well. Plus, I think too many bears have already been trapped. Monday, I think we'll have a gap up above 11K. After an initial selloff, a lot of people will be buying in the morning, bringing us to new 52 week highs. It would be perfect if a selloff commenced in the afternoon.
I noticed how the Greece news has only helped the markets, it seems for the past month or so news comes out that Greece is in trouble, markets pullback very little and days later another annoucement that they are getting bailed out sends markets around the world up 2% or more, the same thing again this week, Greece is in trouble one day, the next day everything is fine pushing nearly every market around the globe to new highs for 2010.