Thursday, October 29, 2009

Some thought on Market

S&P500 has reached my October target 1100, and pulled back exactly at level that I forecasted a couple months ago. We violated many support lines, but technically we are due for a "Dead cat bounce" by end of this week, but it's too early to say if we are going to get it anything more than a bounce or not. Here is the link to October article:
As you know consensus for 3Q GDP is 2.5 to 4 . It will be market mover on Thursday. Please note we must get above 1054-1066 very soon otherwise picture is going to become uglier. If big institutions want to move market higher they must push the S&P above 1050 on Thursday.

Related Topics:
S&P500 Possible Moves In August