CNBC.com: Art Cashin: 'Massive Rally' Expected Soon 23 Sept 2011.
http://www.cnbc.com/id/44639891
It looks like it will be coming sooner, as the futures are up fairly nicely: 18:45 - 19:05 EDT. 19:30 EDT. It seems the sensible words of Angela Merkel
http://www.cnbc.com/id/44662936 "Greek default would destroy faith in Europe, end of investment in Europe, and need to give indication that this will not continue to Spain, etc. are having an effect. Longer term, Jeff Miller on gf has this:
http://greenfaucet.com/economy/is-it-2008-or-2009/82741 MW: "absence of bad news is the good news now":
http://www.marketwatch.com/story/standstill-economy-needs-rest-from-stress-2011-09-25 may be playing a relevant role as we speak.
I take Elliott wave prognoses as a maybe sort of thing, I do not let them rigidly steer my thinking. The saying, be greedy when others are fearful and fearful when others are greedy, I think, works. I used it on Friday (I may be wrong, we'll see) to overrule any rigid adherence to precise EW thinking, as if anything is fore-ordained in the mkt. Nothing is. When the mkt changes, the EW has to change with it. TC and Uptrend are in the know on this. TC did not venture even a guess as to how the mkt would zig and zag this coming wkend.
What I am saying here is don't be a bear-purist and stomp and growl if the mkt doesn't go down as far as you had insisted it should. Cassandra types are always expecting it to go further down, sure there are targets from bear flags and H&S, but reality intervenes and the mkt decides it's gone down far enough, we may have more buyers around, i.e., potential ones, then they let on to, etc. This happened in 2001-2002, it didn't go down that far. Other times, it goes down further, wheee! Oh no, Mr. Bill . . . But not this week, I think. I may be wrong. We'll see. There are indicators.
Merkel's comment about the Thursday vote is relevant.
