I think the end of the week will tell a lot about the long term direction of the markets. So far my reading, suggests that the correction is not done any time soon. There will be a bounce, that could start as soon as Wednesday, to attract buyers so that sharks can short at a better price. The Bounce could go as high as 1800 in the SP depending on how strong the first days will be. If the market on Friday closes below 1533, that would be ugly, the bounce will not likely go above 1670 before turning to visit new lows and reach 2000-1800 within a year or a year and half.
Thinking out loud.
- Thread starter momoNY
- Start date
Yeah, I can see it happening once, but an entire post of "1"'s.
I believe the market will re-test the 2007 high's in the 1500's down the road.
Obviously
You should read 2800, 2533 and 2670 instead of 1800, 1533 and 1670. Can't believe it !!...
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No major action to be expected today (inside day). I think we may see a short term bottom tomorrow. I anticipate the market to fall to new lows (the Dow should trade bellow 23340) after FED decision if they hike and watch the market come back strong into the close. Then Thursday and Friday will decide how far we go up before turning down again. OR NOT
I definitely see 1500 on the s$p!!!
Everything is possible. IMO, the 2016 pullback which becomes support at 1810 will be a big hurdle to break. If we get any closer to 1800, I will put every dime I have (retirement, 529) in the market for the mother of all bull markets that will follow.
Wow! The market is acting very weak, weaker than I thought, I was expecting a stronger close than this. Paradoxically this is setting up for a bigger bounce (2-300 points in SP500), but the bear market will be longer. We will very likely visit 1810 in the SP, if we get a close below 2530 on Friday, which I think will happen as follows:
Tomorrow the markets will tumble and recover strong to close near the open or above. Friday, if the market opens higher it will reverse to close lower and below 2530. If it opens near the close, it will go up and ease to give up most gains in the afternoon. Will see.
Tomorrow the markets will tumble and recover strong to close near the open or above. Friday, if the market opens higher it will reverse to close lower and below 2530. If it opens near the close, it will go up and ease to give up most gains in the afternoon. Will see.
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If and when we get down to 1800, the economic landscape will have deteriorated significantly.
Everything and anything ... is possible, including the bursting of the mother of all bull markets presently.