Market Outlook

Tomorrow is free money day!!!!

You think the futures are jumping now? HA, by the opening bell there is going to be even a bigger jump in the futures, tomorrow the market will finally erase its losses from only ummmmm 2 short days ago!!

Bad news only brings higher equity prices, until the free money Bubble ben bernanke is pouring into the market finally ends which I doubt ends at QE2 this market is just going to continue to jump higher and higher!





S&P FUT
1315.90 7.30 +0.56%
DOW FUT
12266.00 40.00 +0.33%
NAS FUT
2327.50 16.50 +0.71%
OIL
108.71 0.43 +0.40%
 
DOW weekly updated broadening formation at blog shows choppy sideways price action over several months (ie distribution) It’s converging towards an apex where a decisive move lies ahead.
 
Have just returned to my charts after some time away and notice
I missed a short covering spike. The problem with burning all the
short sellers is that there won't be any left to cover later on
(ie buy back their short trades after a drop) So when we do get
a sell off it may be more pronounced as there will be less buying
support from the shorters closing their trades.
 
Oil back above $110 and only going higher as the market does, of course one has to give sooner or later!


Gas near me is above $4.00 a gallon, actually way above $4.00, some prices closing in on $4.20 a gallon for Regular, a regular 4 cyl car is costing people $50.00 bucks to fill. Anyone driving 6 cyl or work vans are paying between $75-$100 a fill up. Ahhhh no inflation though, everyone is enjoying the high prices at the pump, right? Wonder if all the fools who bought those nice big suvs over the last 1-2 years are now going to downsize once again to save about $2000 a year on gas. Ahhhh this economy is just too funny, all the cheap easy money policies Bubble ben bernanke has going along with the trillions in free dollars is creating nothing more but skyrocket inflation!


By the way that minor pullback in oil a couple of weeks ago from $113 to about $106 didn't do a thing to relieve pain at the pump, even when the price of oil declined in those days, prices at the pump were still rising. Driving season is coming up and that could easily push the average price of gas to over $4.00 a gallon for dozens of more states.


*OIL
110.60 +2.31 +2.14%
 
Does anyone remember what happened on Monday, I guess not!!


S&P FUT
1333.90 5.60 +0.42%
DOW FUT
12449.00 53.00 +0.43%
NAS FUT
2372.50 17.50 +0.74%
OIL
111.44 3.16 +2.92%



Stocks Close Sharply Up, Driven by Earnings
S&P FUT
1334.30 6.00 +0.45%
DOW FUT
12451.00 55.00 +0.44%
NAS FUT
2375.00 20.00 +0.85%
OIL
111.46 3.18 +2.94%


S&P FUT
1334.30 6.00 +0.45%
DOW FUT
12455.00 59.00 +0.48%
NAS FUT
2376.00 21.00 +0.89%
OIL
111.45 3.17 +2.93%


By tomorrows open the DOW should be up near 12700+
 
The Emini is absoluetly stunning! The odds of an upday are always about 80% it seems.
There's lots and lots of bullish people I follow on twitter who have been buying it everyday for months and months and I keep thinking that they're about to 'get their comeuppance', but sure enough they are right and it just goes up relentlessly!
Surely cant be that easy!? Why does anyone bother working for a living if you can just wake up and buy the ES!

Dont want to miss the boat and be making a similar post when the Dow Jones index is at about 30,000 in a few years time! :eek:
 
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