Mar 1 2012, 03:50 PM
I think the RUT breaks out of its trading range to the upside. Ultimate target 2011 highs +-860-865 RUT. Bot the dip yesterday but flat now. I think our Summation charts and even the OS MCO and issues above 50dma can support this.
I have some long individual stocks and no shorts right now.
Longer term, I am seeing some bearish stuff later on down the road. This off the monthly charts of the DX; GC; UST as well as monthly VAY and DJI. But I think euphoria first.
All I can do is try to see the next few days best I can with an open mind.
Mar 1 2012, 03:54 PM
yes the pattern on the RUT is one thing that has kept me cautious - it definitely looks like a push upwards is due.
Oh, yeah, the CBs concerted actions have definitely kept me open minded to the upside too
i just read this AFTER my post - well, this is pretty bullish -http://www.zerohedge.com/news/next-leg-pon...-starting-today
Mar 1 2012, 06:39 PM
The RUT closed below its 20ma for the 2nd day in a row as did the SOX. I want to know what the USD does tomorrow, it's up against that trend line again.
Mar 2 2012, 06:20 AM
I expect this week to be a VST top and lower into the next 2 weeks, then reattack to the new highs immediately into April, then another sell off into May. I expect the lows around the end of May and then higher into summer. Kind of a running correction. For the next 3 months the indices should be more or less unchanged. For VST, I think we won't see over 1390 sustainably before we see a revisit of 1340-1350 zone, and more into May.