Quote from S2007S:
why waste your time thinking 1420 when you know for a GIVEN FACT they will push the SPX to fresh highs in the next 6 months. If you know its going to 1420 you should just say 1575 or 1600 because thats where its going, they are not going to stop the rally at 1420, 1420 is just the beginning as the SPX makes its way to new highs by mid 2011.
True, but that's when I will being to bank profits, personally.
TA works differently on the ES in that bullish patterns still work, and bearish patterns stall the market (maybe a slight correction) rather than precedes a decent drop.
Quote from S2007S:They are going to pump the market up and inflate their way out of this crisis but when the next collapse comes dont think its going to be a 10-20% correction, its going to be more like a 40-70% correction, the higher this market goes without any meaning full pullback the next collapse will set off one of the biggest sell offs in history. [/B]
No way. There wont ever be a huge huge drop of such percentages on teh ES. It wont be allowed. Rules will be put in place again to ensure the upside bias remains (think 'uptick rule', new reduced 'limit down' figure, more frequent weighting of the S&P to quicker get rid of underperfoming stocks etc etc etc)
We go UP in the ES. it HAS too