Fred,
>>>>>>>>>>>> With everyone looking to sell this next rally things just look too cut an dry for me to fall for it. I'm not very bullish..but neither is anyone else.....hummm.... <<<<<<<<<<<<<<<
Firstly, who is everyone. I realise that many on SI are bearish, but when I talk to the average investor they are more optimistic, but not overly optimistic.
If we are able to move up quickly to the 8700 range(a important short-term resistance line) many of the less experienced investors/traders will turn bullish, and that will be the time that selling will start again.
I read the technical analysts report from just this morning, of one of the major investment firms, and they are calling for the short-term top at 8700-8720, which is line with my projections. Again if we get to 8700 quickly the sentiment will change to the positive and that could be a good short-term point to go short. How far of a drop, lets just say a retest of the lows for now.
Right now the sentiment appears to be iffy, but a quick movement to 8700 will change some or even alot of that iffi-ness to a positive feeling for the market, then BAM - the big boys short the market as the sentiment is turning positive.
Just a subjective thought - like playing chess.
Seeya |
