Finally 1500 on the futures in the day time session and grinding up and up. I really think the market could hit its 2007 highs before we get any meaningful pullback!! Remember folks that although the volume is not great, the elections are over, bonds are just too pricey for the small returns, Oil and metals are on the back burner as there is little geopolitical issues so managers are just buying indices to go higher.
What also must be noted the the rotation of new leaders, notice AAPL and GOOGs of the world are not leading up higher here and that to be is a good thing.
FOMC meeting was today and continues tomorrow and we usually have a bullish sentiment into the meetings so we must be cautious of that.
Tuesday, January 29, 2013
Today
Pre market the futures are down marginal. Today i would be looking at S&P 1490.75 for some support and 1494 for the real floor for the bulls. Though the SPX has made 1500 the actual futures have no yet in the day time session and it should happen soon but as volume is light and funds are just not trading we will just have to grind up slowly into that number.
I am not uber bullish but have been saying long is the way for a couple months as I am sticking to my longer term cycles that shows 2013 should make a significant high.
I am not uber bullish but have been saying long is the way for a couple months as I am sticking to my longer term cycles that shows 2013 should make a significant high.
Saturday, January 26, 2013
Dow Will Drop 20 Percent - Fitzpatrick
A confluence of factors suggests the Dow Jones Industrial Average is heading for a 20 percent decline this year, Citi FX Technicals Global Head Tom Fitzpatrick said Thursday on CNBC.
"While there's a little bit left to the top side in the near-term, we're still on the same page we have been for the last three months or so, which is, that we're going to peak out around these levels and see a (decline) probably in excess of 20 percent," he said on "Fast Money."
Fitzpatrick looked at Dow performance charts from 1973-1977 and from 2006-present for the analysis.
In addition to a 20 percent drop in the Dow, he also predicted that gold would hit $2,400 an ounce, jobless claims would rise and Brent crude would hit an all-time high.
"The equity market looks great, up 120 percent if you compare it to 2009," he added. "But if you compare it to 1999, we're unchanged, and we're below the 2000-2007 highs.
"The economy probably barely grew 1 percent in the fourth quarter. We have a situation where it's looking like it could be quite sluggish with the tax dynamics and the debt dynamics in the first quarter."
"While there's a little bit left to the top side in the near-term, we're still on the same page we have been for the last three months or so, which is, that we're going to peak out around these levels and see a (decline) probably in excess of 20 percent," he said on "Fast Money."
Fitzpatrick looked at Dow performance charts from 1973-1977 and from 2006-present for the analysis.
In addition to a 20 percent drop in the Dow, he also predicted that gold would hit $2,400 an ounce, jobless claims would rise and Brent crude would hit an all-time high.
"The equity market looks great, up 120 percent if you compare it to 2009," he added. "But if you compare it to 1999, we're unchanged, and we're below the 2000-2007 highs.
"The economy probably barely grew 1 percent in the fourth quarter. We have a situation where it's looking like it could be quite sluggish with the tax dynamics and the debt dynamics in the first quarter."
Why the small guy has no chance
Why the regular investors has no chance because of these scumbags- Listen video carefully
http://finance.yahoo.com/news/billionaire-smackdown-ackman-icahn-spew-183647044.html?l=1
http://finance.yahoo.com/news/billionaire-smackdown-ackman-icahn-spew-183647044.html?l=1
Thursday, January 24, 2013
Cycles
Doing some cycle work on the daily and it looks like we are stretched here and looking for a pullback.
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