INDEX UPDATE
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The futures are now up huge, and on a subjective basis the market wants 9000. Gosh, are we going to have to listen to all those
DOW-9000 commercials on CNBC again. >>> gggggggggg <<<<<
GOLD was up strongly this morning so far and CRUDE is continuing to rise.
So far this week we have had 3 down days in the DOW, although the point loss were not strong.
Expect volume to be light, so on a intraday basis we may see some strong swings to the upside. The KEY is to see what happens after 3:00 today as it has been in the past.
As we approach 9000 will we see sell programs step in, I think so.
Next week we could see continued weakness and with a stronger possibility of the market taking a technical pause of 2.5%-5.0%.
Many are calling for a pause during MID-APRIL, however feel that the chances are increasing for such to happen toward the end ofnext week , just a bit earlier.
I do feel that we will get to 9000 and possibly even 9100 before this pause occurs.
Obviously the overall BULL trend is still intact and after the pause we should continue up again; therefore if such pause should occur it should be taken as a strong buying opportunity, unless something drastic happens.
Economic reports are starting to come in worse than expected. Commodities are moving up, highlighted by the price of CRUDE and GOLD.
Interest rates are still in their upward trend, at least for the short-term. No one believes that Greenspan will increase rates on Tuesday, but what happens if he makes some stronger negative comments. Will leave it to the fundamentalists to guess what Greenspan will say - Im just saying what if.
Seeya |
