Looks like a market break out brewing

Cherrypicker · Dec 30, 2008

Quote from stock_trad3r:

Futures are surging as well as oil. The dollar is crashing. The dow should retest 14000 within 13 or so months because nothing changed...........

It'd be nice, but extreeeeemely unlikely. It took 6 years for the dow to retest the highs of 2000.....and you honestly believe it'll retest the highs of 2007 in such a short time frame after the sh*t fight of late??

NeoRio1 · Dec 30, 2008

Quote from stock_trad3r:

Bad idea. The trend is up. All bad news priced into the market.

The monthly trend is up.

The weekly trend has been in a down swing but it looks like the weekly trend is going to be confirmed into an uptrend soon.

Cherrypicker · Dec 30, 2008

There's a whole lot of weekly down trend happening just above 1100 on the S & P 500 at time of writing. There might be a short term reversal in the wind, but 'caveat emptor'.

AMT4SWA · Dec 30, 2008

Quote from stock_trad3r:

Bad idea. The trend is up. All bad news priced into the market.

There we go......all 5 point targets filled with the trade through 873.50

Holding remaining position for additional downside action.

AMT4SWA · Dec 30, 2008

Quote from bond_trad3r:

^ He's right.

While stocktrad3r is dreaming about the upside, I am making profits playing the downside. :eek:

MrDODGE · Dec 30, 2008

The GMAC bailout is why futures are up.

Yawn.... when will the government go back to free market principles?

Sky123987 · Dec 30, 2008

Quote from kxvid:

brilliant analysis

lol

aradiel · Dec 30, 2008

GM bailout "news" again? So much for beating a dead horse for the third time, another fading opportunity.

Rabbitone · Dec 30, 2008

The cycles in the Dow on weekly the daily will turn around in the next 5 days. For confirmation look at the recovery yesterday. Dow will top out between 10800 and 11600 between april and august 09 and then turn back down when earnings fail to start any comeback.

daxscalper · Dec 30, 2008

Quote from stock_trad3r:

Futures are surging as well as oil. The dollar is crashing. The dow should retest 14000 within 13 or so months because nothing changed with regard to the us economy between now and june 2007. Obama not pulling outof iraq and more tax cuts. Buy all dips. The only recession is a fake media generated one, and a non credit crunch. I am really serial .

I guess we need bulls and bears to make a market.