Where Are We Headed?

[JT47319]

Quote from lescor:

Break the SP500 200 day ma and recent highs with enough of a pop to suck in the money waiting to buy on a pullback and make the stubborn shorts throw in the towel. Then once everyone is long and complacent, a slow rollover as the economy comes back into focus, culminating in a whoosh of selling as all that supply gets blown out and we crash through the October '02 lows.

I agree except for the part about crashing the October lows. I'll think we'll find support there. The economy may be sluggish, but not enough to tank past October

 

[Pabst]

Quote from nitro:

Honestly, it is too close to call.

I expected a lot more from the spoos this evening (I know, + 9.75 and I am crying?) I think the market is beginning to HEAVILY discount the war, and only _MONSTER_ news now will move the spoos +25+ premarket.

It will be easier to tell once we get a significant number in the middle of the war. GE's nubmers and other numbers coming out this Friday will be interesting if it is a surprise on one side or the other...

Just too close to call right now...

nitro

My gut on GE's numbers (and the charts) is that an upside earnings surprise is the juice to get her up to $31.00. How is this for a short term scenario, tired bulls sell off of 900 thinking that bullish war news is discounted. Then we get some surprise economic data taking us another leg up.