Zeev's Turnips Patch-No Politics (ZEEV)

[osprey]

Looks like a breakout on the DOW. I had support and resistance at 8,000 and 9,000 and it is above 9k with a few minutes left.

This bear market rally could have legs. We are past the panic selling and forced redemption stage. No more banks are failing on a daily basis although more could in the future.

Pretty much what I said a few days ago.

"Support is at 8,000, resistance 9,000. A tell would be a convincing close breaking support or resistance.

Having been out of the markets mostly for a while and in cash, it could be time to scale back in."

My current wild guess. We rally on balance for a few months. Q1 earnings will be terrible. The economic stats will be terrible. If there aren't signs of a pickup in the economy, another leg down. If the economy shows signs of bottoming, the bottom was in November.