Wednesday, April 10, 2013

Market at new highs, comments

The S&P 500 wanted that all time high, kinda like an itch that needed to be scratched, it was just too damn close!  Plus this next push is logical because it causes the most pain for both the 'Bears' who keep trying to pick tops, but also for a lot of the 'masses' who thought some sort of correction had started last week and either sold or shorted and are getting burned as well.  Over the years I've found that the  market generally does what will fool the masses.  For example, if too many peole see a pattern, many times that pattern won't play out.

Otherwise short term let's see how far this 5th wave takes us.  In last night's newsletter Steve discusses his thoughts for high how this can extend. 

Also those NAMO and NYMO bollinger band charts once again clearly called last week's bottom, those have been amazing at picking tradeable bottoms

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