1 reply to this topic

[denleo]

So far it looks to me like a perfect consolidation. DOW remains the strongest index and Small Caps are lagging. While the momentum part of the latest advance is over, I don't see a beginning of a decline. In fact I think prices in small caps (IWM, er2) and NASDAQ should find a short-term bottom tomorrow or Thursday and try to move back to recent highs. DOW may require a lot longer consolidation and I think it may be weaker than others over the next few days. I will be interested in buying NASDAQ sometime tomorrow into weakness. There was a lot of down ticks today, including one of -1,300, and SPX could not even close below 1500. While chances are it will trade below it soon, I think it will represent a short-term buying opportunity. My longer-term view remains the same: SPX will see new all time highs soon (within a month or two). Denleo

[arbman]

I also highly favor another blow off, denleo...