Replies to post #41635 on Short Term Trading Member Forum

[PriceTeam]

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

[PriceTeam]

I'm keeping an open mind on the idea that this has been nothing more than the wildest bear market rally ever--that the bullish signals (golden cross and many others) were caused by the extreme nature of the bounce-back from the *extreme* oversold conditions last year.

If this were the case, then anything could happen. The market gains could melt away faster than a snowball in the summer sun. But, without further evidence, it's a fantasy, a dream, a mere possibility among 10,000 others.

Ted