Monday, July 21, 2014

Charts 07-21 a.m.: Outlook unchanged

Haven't posted in a while, because my analysis is unchanged.  I still want to see SPX 1925 this week for point "24" on the green 3PDH, and then a rally into July FOMC and the next GDP number.

Good luck to all (bears).  I sketched this at EOD Friday.

SPX 07-18

5 comments:

T.Berry said...

dropping 62 in 2 days,,,,just don't see it happening. the floor i believe going forward is s&p's 1900 if not definitely 1800 as an absolute low forward. never felt better about 2,200 than now. nothing on horizon to stop this bull market. good luck to bears, they will need plenty when dow hits 20k next year

T.Berry said...

bicycle you actually think dow would ever again hit 14k? really? my low target (worst case) is dow 15,900. i see it going to 20,000 early to mid 2015. what possibly could keep it from going there? stopping qe will only accelerate the move up.

Trading Sunset said...

So..err...we're still going up...

and you're still calling relentless tops.
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Its like hardly anyone has learnt anything since last summer.

A whole year....400pts higher..and still...the same thing.
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Seriously.... how about it?

pb said...

Hmmmm -- ahhh Semiconductors are not looking too healthy at the moment.
FOMC meets next week and QE goes to 25 Billion. Rapidly approaching the point of diminishing returns.

I'm looking for a deep correction followed by a strong forth quarter rally then this pig rolls over until they start another form of QE.

The end is near!!!

Phat Repat said...

Meh. Market goes up, market goes down. I hope you are making money on both ends.