Good chance Market near a short term high.

DHOHHI · Nov 22, 2005

Quote from GreenDog:

only a rookie would be short here (that doesn't mean you can't take a little off the table on the long side, though).

If you don't think that people are starting to quietly build short positions you're kidding yourself.

reno4nook · Nov 22, 2005

Quote from dgabriel:
Volume doesn't factor into AD lines.

Right.

But it does tell us how many 'players' are in the market. If market participation is scarce, I personally tend to put less faith in what the breadth indicators are saying.

cheers,

dgabriel · Nov 22, 2005

Quote from reno4nook:

Right.

But it does tell us how many 'players' are in the market. If market participation is scarce, I personally tend to put less faith in what the breadth indicators are saying.

cheers,

Yours is not an unreasonable position, however, the volume of the last 45 days has not been unusual in one direction or another and breadth has deteriorated.

Note the thread title. Nothing written in stone. Just a reasoned outlook based on historical data.

reno4nook · Nov 22, 2005

One thing that could cap this rally is rising oil prices.

Oil is back above $59 now in after hours trading.

Tomorrow's EIA Petroleum Status Report could send it above $60 if the inventories are low.

rubberbird · Nov 22, 2005

Quote from Loser Capital:

I have 1273.40 as a likely SPX target, with initial resistance at 1263.45

typical lithium capital...making a bold prediction that the S&P will rise 10 more points after it has already risen 90.

murray t turtle · Nov 22, 2005

Quote from Apex Capital:

What's wrong Little Boi?

Did the moderators not take your pathetic and incredibly stale three month old "The S&P Has Topped This Week" thread and move it to Chit Chat

Happy Thanksgiving!

======================
''Incredibly stale 3 month old 'the S&P has topped this week''

Hard to go wrong for long calling tops in an uptrend, cause there are so many tops in an uptrend;
but some sectors havent done anything but downtrend most of year.

steveosborne · Nov 22, 2005

Quote from reno4nook:

One thing that could cap this rally is rising oil prices.

Oil is back above $59 now in after hours trading.

Tomorrow's EIA Petroleum Status Report could send it above $60 if the inventories are low.

Oil is coming back up while temperatures are returning to normal but it will probably stabilize around $60/$61 because I think we're about to witness signs of economic weakness, which would contribute to capping the rally.

jackbyrd · Nov 22, 2005

Quote from rubberbird:

typical lithium capital...making a bold prediction that the S&P will rise 10 more points after it has already risen 90.

What I find most humorous is the fact that he will always postulate the "sure thing bet" after an expansive move and EVEN THEN he will often become the inflection point.

duard · Nov 22, 2005

Investor sentiment just peaked at 100% bullish.
Everybody wishing for a new breakout bull during traditional strength. The market just floated this am before moving up. No selling.

Well, OK but a "new bull market."

We'll see about that.

rubberbird · Nov 22, 2005

Quote from jackbyrd:

What I find most humorous is the fact that he will always postulate the "sure thing bet" after an expansive move and EVEN THEN he will often become the inflection point.

Yes! well said jackbyrd. I only wish that lithium would be specific for once in his life and say "I am buying here!". That's when i'm selling, it never fails. After a lithium moonshot prediction, the S&P always tanks 50 points.