Buckethead wrote:This is a liquidity driven market. Understand this market has nothing to do with techinical analysis, fundamentals, macroecnomics, aapl price, nothing. It is just a function of liquidity and when bernanke says more liquidity coming YOU BUY. forget t/a, economic #'s, fundamentals.
Execellent comments. Great understanding of market!
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this is already huge pullback bears could hope now.
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If isee could close around there, this still is around top 3 of the record.
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GLD confirmed breakout into new Fibonacci channel, out of descending wedge in yellow. Initial target on chart around $168.50.
First Roubini, and then the barrage of naysayers since December "market is due for a pullback" have cost more people more money than the recession itself by keeping them out of the market.
wow, we could pullback this huge, must be bears' dream come true.
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I don't read this as a valid breakout, so bears could hope another day although I really don't hope much here.
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10 year monthly chart. Market has gone up way longer than this leg before having any meaningful pullback before. "too far too fast" means nothing in a bull market, but some people will never get that, in the process of making everyone else broke.
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Cobra wrote:I don't read this as a valid breakout, so bears could hope another day although I really don't hope much here.
Cobra if you cant stop a speeding car does that mean more up tomorrow???
at least the very first pullback is buy.
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well, guess that's it for today. normally a day like this, the next day should be a small range bar, there'll be a morning dip but the dip will be bought. thank you guys, I'll see you tomorrow.
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