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"Why, this is a bull market!"
Well S&P 1330, thought maybe a bounce down after hitting it. We hit it and went only down a little and tested it again and only went down only to 1329. Did we just run out of time to get back down to 1327? I don't think so.I think it just was a hesitation from hitting a strong resistance point.
Here's the 50/50 chance question?
Do we do a repeat of last Monday's performance after a bullish Friday and jump above 1330 and drift up towards 1385?
Or do we consolidate here and build a new high base around 1330.
My guess is the jump. Some bears may think this is a good place to short the market but I didn't see any sell off. I think QE2 is still making the market bullish and some strong bad economic news is needed to negate it's effect.
Just my guess and daily practice of guessing the C fund.
Now time to make the coffee and watch market video's and see if they think the same. Some of them should be posted by now.![]()
S&P 1320 should be a support area and we should see a turn up there.
I was suprised we didn't stop or hessitate on 1327. Maybe there's more volatility for options week causing larger swings. But over all were still in a bullish trend and the dips still should be bought.![]()