Options Wonderland

[*~1Best~*]

Correction: SPX 1550 and DOW 13000

Posted by: __1Best__
In reply to: wonderbuy who wrote msg# 2730 Date:12/15/2006 9:37:08 PM
Post #of 2734

Have you heard of "3 peaks and Domed house" which is NOT my favorite formation?

It seems like every trader is talking about it and driving markets higher to target SPX 1300 and DOW 13000.

I have forecasted the higher target when I noted 4-8 cycle to you as well, but the price hype to DOW 13000 is too fast and quick.

Market is at another major juncture, i.e. NASDAQ/QQQQ double top formation. SPX/DOW closed at upper Channel resistance TL.

However, all market forecasters are getting Higher and Higher.

All bears are Domed if the Fed decides to bubble up the markets as quickly as SPX 1300 without any meaning retracement.

Have a nice weekend