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......

3 comments:

Mike Stone 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?

Roberto said...

Tim I plugged you over at my blog. Keep up the good stuff I share your views on technicals vs fundementals. Remember the word fundemental has "FU" in it.

http://www.nasdaqtrader.blogspot.com

PB said...

I believe the more the markets act this way, i.e. rising no matter the news, the worse the beating it will have. The complacency is unbelievable!! I guess nothing can go wrong with stocks! :)
All we can do is wait, and wait and wait. The fed still has a lot of mopping up to do!