Quote:
Originally Posted by Crowbob
I see a moderate correction before the end of the year; Dow to >8,500 again. If it doesn't happen, I will deny I said it.
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NOt going to disagree with this...probably sooner then later. every market backs and fills...
Anything above 1000 on the S&P means it has broken on through and the rally still has legs..it has broken through the psychological ceiling.
I am not a real tech analyst who pours over the charts. But after 20 years oif watching the SM one gets a sense of direction and a bit of knowledge to be dangerous to oneself. It is as if you have seen enough water over the dam to see the direction of the thing. SM's are like living breathing beings..theat reflect the health or perceived state of the economy they are based upon.