capitulation? we got some this week from the instituions, but i dont think we got enough to form a true bottom, i see us in a trading range, swung back and forth by economic numbers, if market sees soft landing and fed done, we bust through, until then, we are locked in a range, but higher interest rates, when you use a discounting method for present value means high tech is worth less today, but when the rally comes , they will be looking for growth again,
high techs will be back, but we will be range bound at least until next fed meeting and july earnings, didnt some analyst call today for no june fed hike? that is exactyl what i was talking about earlier, i bet you hear more and more of that over the weeekend, which should take us back to the upper end of the range next week, but at this point, i think 3500 is probaly the top of the range for now
have a good weekend
ps i told everyone to look at bout at around 3pm, it was acting strong a little over 36, it closed at 38, this one can pop big when it wants too, it will be bought out sometime over the next year imo |
