Replies to post #857 on Justa's Dive Bar

[chainik]

<<My guess is that SPX 1490 caps it for the month. May upside is projected to be 1513 at this point>>

At this rate your May 1513 will be reached in April :)

[Ace Hanlon]

Justa:

I have been expecting SPX 1500 but not quite so soon.

This has all the earmarks of a final blowoff like late 1999 early 2000 IMHO.

I do not trule out a move considerably above 1500 before it ends, but I expect a BIG drop once a meaningful top is in place.

[Justa Werkenstiff]

Market: On the NDX, my upside target thinking had been 1850 when I turned market neutral on 4/4. Obviously that target has been exceeded.

A few days back, I reworked some things and saw this NDX move as potential though I saw indications that the NDX was topping at 1850.

Anyway, fwiw, I am seeing a short term top on the NDX anywhere between NDX 1890 and 1905. But the interesting thing in my mind is that area has the potential to develop into an intermediate term top as well over the coming month.

I will be very interested to see what the rest of the month brings for the NDX. I am wondering if it closes near the highs I indicated or if it sells off from those highs, or maybe something else I have not considered.