J.T. you asked for bulls to give you targets on the DOW, SPX, and/or NDX. I'm not surprised that no one replied. It's a tough question for anyone to answer or guess. SPX just broke the July resistance and is looking to go a bit higher, but it's due for a rest: siliconinvestor.com
The NDX... Wow. What can I say but THANK YOU NDX for one awesome run and all those 100+% gainers in my portfolio. The're a bunch. Again, who could have guessed that the NDX was the one to defy all logic and reason, but you can't fight the hottest sector when it's hot...Technology and especially the Inets.
So, my target is... I don't know. Peter made a great observation which I agree with. It's time for a rest and we are starting to see it. Timing is everything and catching those minute fluctuations early is the key. Another possible short-term relief is MSFT. Gates is not going to piss it away. He's going to fight this and he'll get his way. Maybe not all his way, but he will IMO: cbs.marketwatch.com
Maybe the CNBC analysts have a target. They always seem to know what the markets are going to do, and they are almost always wrong. I don't waste my time trying to guess where the markets are heading if all technical, economic, and political indicators said GREEN in October. IMO, it's going to remain GREEN until at least Q4 earnings, possibly Q1 earnings. After that, it's going to be a lot harder for companies to give a rosy outlook for Q2, and Q3, unless short term interest rates decline in early 2000 and remain low through the first half of the year, then the bull should continue and 12,500 - 13,500 by year-end 2000.
I'm long and strong QQQ and SPY for now, but tomorrow is another day and we'll see how things look tomorrow afternoon.
Twick
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