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Manufacturing data showing improvement in ISM, market getting the boost


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#1 T.A. MASTER

T.A. MASTER

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Posted 01 June 2009 - 09:37 AM

Just wanted to chime in that I'm glad my predictions that market was ready to breakout due to watching the manufacturing stocks leading is coming to fruition. The smokestack stocks were showing the path higher. Now the 200 Day moving average on the Dow is coming at 8,761. The S&P 50 DMA was broken at 928.60. Nasdaq has been above the 1,710. Based on breaking the 200 DMA, the markets are poised to move about 7% higher. That will be the point at which it will have resistance. S&P 1,000 here we come. Where are the uber bears like Isaac613 with the depression scenario? Guess gotta wait for a down 200 day for em. Some may say uptick in Mfg is due to stimulus. But what about Mfg downtick was due to financials collapse and pricing in of GM? There is always a theory. What about simply that the cycle has turned up for now? Hey, da chief, high five and cheers for hanging tough to the bull case.