DMP,
You, Chris, Don, Robert, Paul and others are doing a great job with this thread...congrats!
Seems to be wide spread expectations that CSCO will likely drag the market lower due to 'so so' earnings, or the typical post earnings dump...
Well, history has proven the market generally does the opposite of what most expect it to...a phenomena that is really quite amazing...
The longer the market holds it's own into August, the more likely the trend will continue higher...after all, everyone knows September will be up, right??? Ya know, election year and all... Kinda like last December's rally in anticipation of the January "everything's still on" rally that never happened...
Strong Augusts are rare...but with the higher low, wedging in on 4k, the late May bottom is looking like that may have been it for now. Would not be surprised to see resistance at $4k turn into support within a week or so...all imho
MDA Exilee,
SR |
