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.
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