Zeev, we're getting your moonshot right now, and the internals are still fine. I think the problem has been that everyone was looking for the pullback before the big rise, and instead, we're just getting the big rise.
Posted by: mjk
In reply to: jjstingray who wrote msg# 36033
Date:11/5/2004 11:14:06 AM
Post #of 36373
The one thing is though, almost everyone's complaining about the bullishness and looking for tops, so that's really not that great of a bearish signal<g>.
As far as the P/C, that may put a stop to this for today, but I remember a week ago someone was posting how low the P/C was...I pointed out it looked just like April 17th 03, when the Nas started a massive two month rally.
I would not be surprised to see today's gap get filled, but we should continue higher the next few weeks, with the 9ema providing support.
edit: I expect 2153 to be hit right about the day before thanksgiving...still have my longer term target out there as well, 2368-2400 around end of Jan.
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