The bears among the technical crowd are going to need the Dow to pull back to 9600-9610 within the next couple days....or the move on Thursday/Friday will be an undeniable upside breakout (from a mostly ascending...maybe even symmetrical triangle)...according to technical law <g> as I understand it...
Mo, I'm tellin' ya'..if we have a couple good upside days (early in the week) with increasing volume....Ralph Acompoooba is going to be on CNBC making his big call (up)...bet on it...and the revisionists will be out in force....("Yeah, but I meant 5-10% downside from the top at 9638, and we got it, blah, blah, blah"...)..
For the techs, especially Dell, Intel's pre, or no-pre warning (March 11/12) is going to be key..that could shift leadership over to the techs in a big way if they do not pre-warn next Thursday/Friday...
Looks like the Naz heading through 2400-2410 would also be a nice upside technical indicator (before we get to 2510)...
Heck, even Jerry Favors thinks we are going higher <Yee Haw>..
Well, enough of that for now..I don't lend the stuff much creedence, but it is fun to watch (and follow) and make a few predictions along the way....also, a lot of folks do invest based on it...so it can help, I suppose, in timing entry points into issues.... |
