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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: jitka who wrote (87109)	4/9/2009 11:34:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 94695

Thanks... yes, I think these markets are going much higher, but we're now overbought near term... the main thing here is that the market is now behaving like a bull market, so it can remain overbought and still move higher... I agree with Vi, I think the bear market low is already in place... I'm still on a buy signal from a few weeks ago and I have no sell signal anywhere in sight... for the SP's, the next overhead resistance I have is at 858.20 basis the June futures contract, give or take a few ticks... but I also expect these markets to move above that level after yet another 30 to 50 point pull back from there... it's just a suggestion here, you could buy lightly and just add on any pull back... I think the next legitimate top of any significance may be around SP 1074ish, provided we actually get up there, that's just above the 200 DMA... GZ