INDEX UPDATE
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I will state that after last nights data, I have amended my position - there should not be any substantial pullback until after March expiration until APRIL/MAY. My analysis is also stating now that the bias to the upside can last another 2-4 days, then any pullback will just be a very small one , like we had last week (1-2 day mini-dip), or just flatness.
This is changing my original position that the pullback would be sizeable, and that it would start in the MAR 11-13 timeframe. I am projecting the next weak period to be around next MON-TUE, but as I said earlier it would not be a big one.
Kiri, my analysis is based on several indicators, and do not base it on only one indicator. This is not to say that your VIX indicator is wrong, just that I get nervous basing my position on one indicator. I am getting all types of wierd signals right now which is making me change my postion to be more towards the upside bias for the short-term.
I am not saying that we are heading for 9000 before March expiration, but that the upside bias will be extended beyond my original position.
As to how much higher the DOW will go before expiration, I don't know since my analysis is more on a basis of time not price. Subjectively do not think it will go to 9000 before next Friday, but 8800 is possible.
Seeya |
