Things happen so quickly in this market. The drop from 1230 to 1175 over a two day span is a drop equivalent to the previous drop from 1190 to 1135. Moreover, 1175, hit today, fills a gap exactly. I have neither the courage, nor the preparation to buy, but I feel that this is worth pointing out. If a base forms around 1175 (on ES), that would build courage.
Expecting a few points lower but NFP=0 is like uber-bullish LOL
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Anon
Suspect next week will provide better entry price
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Anon :)
I think the general trend is still down, although there will probably be nice bounces up along the way. Last week looks like a bull trap. There is strong support at 1100 on the S and P. The question is, will it hold if we do test that level? This should be an interesting next few weeks George.
ReplyDeleteLow should be in the 1018-980 area whereby the ES should rally tremendously into year end.
ReplyDeleteNatural Gas should make a low in September or by Oct 4/5 whereby it should rally into Jan end or Feb all the way up to $18-20. Guaranteed is $8/9 in November/Dec 2011.
Gold big drop to 1155 and then final low at 979.50 in Jan end or early Feb.
Bonds to tank after Sept 26.....