The thing that most amateur investors dont realize is that it will go where the numbers (EPS) tell it to go, look for a sp500 p/e average of 6-8 as the real bottom, forget what analysts and all these idiots say on tv. Right now the average pe is still in the high 10's or 20's, we got a long ways to go, still havent seen total capitulation.
i have to say bulish for two reasons:
1. longs and im talking majors investores, have to defend their positions, this is their last line of defense and major line of support for over a decade.
2. as far as shorts concern, whats the play??? lets say we break the support, than what, whats the target??? 5500? 4000? (pick a number outta the hat) there is nothing there. what are you going to do just short the sh!t outta everything and hope it goes where???
Major investores always have strategies and plants and i just have hard time seeing good short strategy.
thats just my two cents
Bearish with some occasional short squeezes-pops to sucker in more idiots like some above me. This is going to last a longs time or until GDP/Unemployment/housing starts start to reverse.
So if your buying here, your basically an idiot, it's gonna be a long one this time.
Retested the Nov low which has held up so far.
Everyone is expecting a sharp selloff with high volume in order to establish a bottom. With all the bearish sentiment, this could actually be the bottom.