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S&P 500
5,463.21
(
-0.59%
)
US TECH 100
18,380.00
(
0.18%
)
Dow Jones
40,309.95
(
-1.05%
)
Brent Oil
69.93
(
0.57%
)
Bitcoin
56,305.81
(
-2.36%
)
Post# of 51839
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PriceTeam

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Re: glennob post# 41635

Wednesday, 10/14/2009 4:37:44 PM

Wednesday, October 14, 2009 4:37:44 PM

Post# of 51839
Glennob, a breather at least, a consolidation. The current structure is unusually bullish. Dreams of a dramatic drop are just that--fantasies. An off-the-cliff drop could always happen but I'm not betting on one here. A 10 percent correction would be the norm from SPX 1100ish (a push into the low-to-mid 1100s still possible). But with shorts competing to get out again and investors competing to get in (which is the cause of the early arrival of the last 20-week and 10-week cycles), anything could happen.

The length and angle of the current ascent is not sustainable. So a breather into the 40-week low is a high probability.

Extraordinary times!

Ted

Know the PRESENT market configuration so well it *appears* you know the FUTURE 70+ percent of the time.

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