The 200 is at 1167, and the high for SPX today is 1164. It'll be interesting to see whether there's a doji near the 200 at the close today. Not to put too fine a point on it, but note which way the 200 is sloping. When it's sloping that way, chances are that the price will meet resistance at the 200 and fall (or so some contend).
Everyone's so gosh-darn bullish now. Even Paul -- even Paul!!!! -- is inclined to think the Dow could break higher here. My forecast, I suppose, is: Partly Cloudy.
I've adopted a new lingo for my forecasts, after taking the advice of a helpful poster here. I tuned into the Weather Channel, in hopes of finding some accurate predictions. Earlier, I ventured outside my luxury trailer home here at the back of a trading pal's junkyard, and found a working CRT monitor, making a total of five now in my trading command post. I was immediately drawn to the ads on the Weather Channel. I signed up with one of Matthew Lesko's money-making schemes, and now I may not need to trade stocks anymore. That'll be something of a relief in the new year.
On the Whither Channel, CNBC, they seem to be saying the market will move higher, based on all sorts of good reasons, whenever the Dow is moving higher, and lower whenever it's moving lower, based on equally good reasons. It's difficult keeping up with the changes in mood today on the Whither Channel. |
