Cray, regardless of the scenario, we are in a short-term bullish trend that indicates we will continue to go higher till late February, based on my research. However, I also think we will see some buying up to the meeting, and as usual we'll sell off the day after the meeting after a morning uptick, just as you indicated, unless the FED lowers rates, which is highly unlikely. As far as targets for the Nasdaq, I think we possibly may see around 3700-3800 by late February, then it's likely we will start another bearish trend entering into tax selling season, March and April. Therefore investors should be buying the retracements now.
KM |
