Dennis,
>>>> Wow, Dow 14,000. That seems nuts to me. But Favors nailed it last year. He blew the bottom in October, however. Bearish all the way up.<<<<<
14,000 would not surprise me, since I am suspecting a blow-off top.
I am expecting strong runups after this 9-month cycle is over, which is JULY 8. Now if these runups are just a continuation of what we have seen, such as narrow rallys on relatively weak market internals and that rotational type of rallys, then I will conclude that this correction did not correct the abnormalities, and that that market is still unhealthy. That doesnt mean that we cant go higher, since it is now easy to move the market on limited liquidity as we saw during this sector rotation pattern since APRIL. And I would not even be surprise if we blew right by 14,000.
I realise that many would want to see 14,000, expecting broad based rallys. If those rallys are not broad based, just get ready to initiate puts.
seeya
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