Subscribe Now

Saturday, February 28, 2009

Down move is almost done. This last selling pressure, should be the last one before a medium-term bottom on the market for at least the next 9 months. It may even extend to go into a full year although we should be conservative at first on the targets.

1000-1200 pts on the S&P look like obvious area for a target, where I fall mostly into the mid-rage as more likely around 1091 points on the S&P.

Two or three more weeks and it's time to go on a shopping spree. It's been pretty much a party for bears for 2 years now. It's time for us bears to enter into hibernation mode.

Lots of signs of exhaustion to the downside support the idea of a lasting bottom to occur in the short term. Lot of market divergences are popping up.
blog comments powered by Disqus

Live Economic Calendar Powered by the Forex Trading Portal
Disclaimer: The information provided on this website, while timely, colorful, and accurate, is not to be taken as financial, legal, tax, psychological or any type of advise. The purpose of this website is to track the progressions of human herd psychology as it is reflected through several financial markets. Any commentary on this page, however useful it may be, is used for illustration, and to inspire thought provoking discussion, and not to be taken as specific trade recommendations. We are not endorsing any site or service, nor are we promoting choice examples as real-life trades. If it sounds sarcastic, it probably is and if it offends you, just don't read it. There are tremendous inherent risks in attempting to trade any market using any vehicle, particularly if it is leverage. Please contact your broker to explain all risks involved in the vehicle you will be trading and any questions you may have.

Back to TOP