Will the S&P go to 1000 or 1200 ?
- Thread starter fly down
- Start date
The same thing happens over and over, the market rallies 25 out of 30 days, money managers and perma bulls start telling everyone its the time to buy and then the market drops 5% in a weeks time, the market is stuck between 1040 and 1130, if it does manage to get above 1130 it would be time to start taking positions off not adding them. And even it does jump to 1200 or 1300 the next collapse will take the SPX right back down below a 1000 so there is no need to worry if you missed this run, the markets will correct again giving many the opportunity to buy the SPX under 1000.
Now is 1122, will go up further.
Why fight with trend ??? Trend is your friend ..
Why fight with trend ??? Trend is your friend ..
Where do you see it going in the next 2 weeks, 1150, 1175 1200?
The way it the SPX has moved in the last 3 weeks says that it could be possible it runs to 1150 or 1175 but where is the catalyst for this move, when the bulls start to celebrate its time to start selling, a day like today is not a day to buy but rather sell. This market moves way to quick to even worry about missing the next move higher in the SPX. It moves in such extremes that missing out on a 30-50 point move isnt a big deal, reason being is that there will be plenty of opportunities to continue to buy and sell stocks in this range of 1000-1200. And even if it breaks out to 1300, 1375, 1425, 1475 or even 1550 you will be able to with a bit of patience buy it back below 1000 because the next collapse in this market will take the spx right back to 2008 lows. Market is not going anywhere that quick, worthless trillions is the only catalyst this market has going for it, take that away and this market pretty much has nothing to run on.
There are some big gaps just above the recent lows in practically all the major ETFs (SPY, EFA, etc.) Those have been getting filled consistently within a few weeks recently. That may be the test if we finally break support or have a real rally not depending on this low-volume, flaky-headlines stuff.
