Quote:
Originally Posted by mact3333
as noted last week, bears are ready to capitulate...move shoud be fast to 1250-1260, the target I have been spewing for wks now....ya see, even when bears were quite giddy early last week you have to trust the charts and not fall for their traps.
1250-60 will be key, if mkts reject(mkts cant hold 1215-20), we will be heading below 1100 again...if mkts accept prices above, were headed towards 1320-1350.
1250 area is key...watch this area very very closely as it will define the action for next few months.
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Initial rejection off of 1250 produced...downturn to 1220...check...reaction off of 1220...check...1250 cleared...check.
Everyone will watch 1270-75 level as 200 dma coming in there...if I was the powers that be, since people will short this level I would ram it through there and get all the bears to capitulate and when they all get on board above 1300 and 90% of the people are fully bullish, this mkt will then tank to remove funds from these same bears gone bull...but thats just me...
....there will be tough times ahead, mark my words.
Were on a buy signal now for awhile...europe just sealed their fate and they will pay us a favor like we did to them with credit crisis in 2008...sovereign debt crisis will be their payback to us.