Wednesday, March 15, 2006

It's Now or Never!

Just a very short entry today, folks.

There is not much to say that's different than what I said yesterday. Really more of an extension of yesterday's post.

The fact is that unless the markets weaken in a meaningful way on Thursday, it will throw quite a bit of cold water onto the current bearish arguments.

The S&P and Dow 30 continue to push strongly higher. And the NASDAQ 100 is right up against its resistance trendline which, if broken (and it won't take much....) will invalidate the aforementioned head & shoulders pattern.

I'll have more to say Thursday after the close; as for now, it's wait-and-see......

2 comments:

Ellen said...

Ever since the 1980's, when the S&P 500 hits a new 52 week high, and the Naz 100 diverges by >4% we have about a 10%-20% correction immediately within
a few weeks. I dunno if that's gonna happen but we are VERY close right now to having this divergence again.

Also - this is slowly turning into one of the longest bull markets in history.

Guess not enough bears have capitulated?

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