I just got an email about my comment about my Obama entry and was asked if I then believe we will turn bullish. I am saying this! S&P will test that 905 number that's 30 points higher which should correlate to a DOW 9000 number. I am very sure when we hit 9000 many fund managers will think the train is leaving and want to hop on board easily adding us a couple hundred points higher. One good thing to take away from friday isn't that the market ended higher but that it ended higher on the worst job numbers in 34 years, that says alot. Is sentiment changing here? yes or it could be that investors believe Obama's administration will be better for the markets and as such is pushing us higher. Folks I am just a guy with opinions, nothing is written in stone but we have to play it as it is in front of us at the time.
We also importantly broke out of a channel to the upside on the indexes but that doesn't mean we can't trade back into them, so I will be watching the action Monday and tuesday for confirmation on the break out.
S&P 905 baby, 905 is calling.
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