On 9/22/09, Nasdaq went up to as high as 2150, which could be important top. $SPX is very close to test the long term downtrend line.
Today's high could be important top. If not, we are just a few points away from the important top. Bulls got to be careful!
The US stock will start a big correction pretty soon. 1800 of Nasadq and 920 of $SPX would be minimum target for the upcoming big correction.
But since the uptrend is so strong, bears should be patient before shorting the stocks and buying bear funds.
I was noticing that today also, I wounder if Monday will be a line up of "PUTS" the Old bait and switch under the disquise of an econimic bounce! A false Buyers market at the turn down.
Buffett and the Boys need end of year write off for Taxes!
I agree with you. The US market could bounce Monday, but the bounce could be short lived.
I agree Johnli, Day Traders beware! Like walking on marbles right now. I wounder if even turning 1/4's and 1/8's are good theory now. The Iran reaction will be interesting also, especialy on futures I think (Nat. Gas I am specificaly refering to)
Been a while since I had anything in the Market. Bull, Bear, alla same to me.
Right now Ghost, it looks like Bull, but S&P and Foregin early am looks wierd, right now its lots of wavering, need to see it after opening. Wait for this G20 thing to settle in. Overnight is an indicator, but usualy with other factors considerd also.
Bad or Good its a crap shoot right now. We are approaching a high peak, so its caution if your smart, place some sale orders, place some limits and buys to offset it, look for signs (Saftey) keep your account balance and be liquid to move in or out. Dont get extended early in the day.
just wait and see but dont wait to long....lol
I called market top at this forum on 9/22/09, one day before the market hit the top (2167 for Nasadq, 1080 for $SPX) and started to sell off. Today's big drop confirmed my market top call on 9/22/09 is correct.
Unfortutely, not many people paid attendtion to my post at the forum at that time. Othewise, they can survive the big selloff.
by TimTurner5 years ago
The stock market has risen about 15% in the last 3 months and about 80% in the last 8 months. Seriously?We are still losing close to 200,000 jobs a month and small businesses are hurting. The economic data...
by Susan Reid4 years ago
It's at 12,900+ right now with a few hours to go in the trading day.Ladies and gentlemen, place your bets.Lectures about why the stock market is a meaningless measure of anything are expected. Go right ahead.I'm just...
by Rob Welsh7 years ago
A couple of months ago everyone seemed to depressed about the state of the ecomony and especially the level of the D J Index.From my position (in the middle of the BumbleTown forests) I remember telling Misha that I...
by ngureco7 years ago
Regarding the current long range downtrend of the stock market, I am one person who does not buy into Elliott Wave Theorists' apocalyptic views of the market. Their views and analysis of the markets may not make sense....
Copyright © 2016 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.