VS - wow, I like optimists.
Especially the Fbonacci-sts, becoming Gann-ists. .786 or .75 WTH!
May low seems to have the focus of many analysts. Needless to say that, if this is the level of complacecy, worse is to come.
5 years trading channel, median is about 3k, lower range, about 2650. Markets overreacting, we could go lower.
3375 as bottom, I like that, more precisely 3333 (Dec support and yet another Fib). The rest is hope, IMHO.
There is no doubt, though (in my mind), that the Naz will stay in it's year-long trading range (Jan 01: 2900-3800 less change) and I don't see 4150 been tested soon.
I have a post-elections rally attempt 3800ish (lower highs from Mar), and you know that I am bearish for the end of the year (9 months cycle, -> high 2k's). |
