Friday, December 12, 2008

Very Bullish Action

I think today's activity, especially after the bad news of the auto bailout failure, is telling us that the market is headed much higher. Last night's low at 829 should hold for quite a while. The e-minis are headed for 1000 and higher over the next few months.

5 comments:

Anonymous said...

Have to agree with you Carl. Think 34 on the qqqq is where we are heading. At least I hope so. Todays action was very positive and I wonder how you feel about a scenario of going up until January and then heading down to the lows mid next year before we see the markets reacting to the end of the recession?

pursuitist said...

Carl,

Why did you change your top range for gold from 850-860 to "hold under 850"?

Any chance you add a $GOLD chart to to your chart link so that we can see what you're seeing?

I see a breakout of 830 leading to a test of broadening wedge trendline at @ 920.

T.C.B. said...

I think most of the stocks are poised for a gap up in the opening and take off from there...
Hi Mr. F.
I turned bullish with DOW potential at about 10,000 or so...
Some are stronger than the others, but they all do look ready to kick in some power behind the rally.
Among the groups I am watching, NYX looks very bullish...
Once tag the target, the market should resume it's down move to lower low, and the last stretch of this bear run...

Michael J. Clark said...

Indexes are topping. Friday was a pullback rally -- December is the time of stock rallies afterall.

OEX will test a new low at 361.31.

Monthly charts are still exceedingly bearish.

MJClark

Anonymous said...

See charts of OEX topping and monthly chart of S&P 500 at:

http://home.mindspring.com/~mclark7/CGTSCOD.htm