For the bulls to declare victory, we first need to jump over that major trendline, which probably will happen in the coming days. But still, I don't think we will be heading back up to ATH any time soon. We'll most likely just chop throughout the year. We might even revisit the June low. Just my worthless 2 cents.
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
We've already had the golden cross in the Dow. Maybe the SP is just lagging the Dow?
I see DJIA ending 2023 above ATH
still think it will continue to be choppy as F this year.Man, we have too many permabulls here. We need a contrarian. We haven't had a real stinky bear (in a good sense) since @ammo left this place and went into hibernation. So you're a perfect fit. I say you should reconsider. Like I said, grow some manly balls. It would be good for everyone.
PE ratio for S&P is still a bit high given potential recession and drops in earnings. The market may be forward looking and rallies short term on good CPI, but any fast appreciation in price will likely have a quick correction. I like to see slower price increase and recovery. Market front runs the CPI report tomorrow is a huge setup for big sell off with bad CPI. And December is a busy shopping season...not sure if CPI will trend much lower MoM.
Well, I'm not gonna argue with you based on fundamental analysis (that just ain't my mojo). Obviously, it remains to be seen where the CPI comes in. If it comes in bad and the market tanks, then you need to recalibrate your strategy.
But as you might already know, market gyrates from one extreme to another (there's no middle ground), and we're nowhere near the upper extreme. There's more room left to fill IMO. And since I've been saying that we're going up to 4400, I'm gonna be riding a bull for a while.
Oh hey, everyone remember, we're going to get a divergence on the DOW come Friday! The CPI comes tomorrow, blah blah, that will affect overall breadth of the move.
But those bank earnings on Friday? Whoop! Watch the Dow dip derp and dive the rest of the action. Always a fun time!
Poor @vanzandt He hates the Dow, hehehe! But if current history is any guide, the Dow will outperform the others for the next few weeks.
But those bank earnings on Friday? Whoop! Watch the Dow dip derp and dive the rest of the action. Always a fun time!
Poor @vanzandt He hates the Dow, hehehe! But if current history is any guide, the Dow will outperform the others for the next few weeks.
From TA perspective, shorter time frame trend is moving up towards longer time frame down trend...setting up for a big more in either direction. Also previous CPI plays, it looks like the same front running CPI day with massive sell off.
That's too vague. Gimme a target.
Since everyone was crying river about credibility last night, I think it's only fair you (as well as me and everyone else) back up the claim with a price target. Just saying it'll go up or down is, again, too damn vague.