sure looks like that scenario plays out into the close.
with a strong upside move tomorrow bringing us to the 150ish area.
translation, markets go down 3 times faster than they go up.
"the street of dreams" fools the majority once again today. looks like we are headed down to fill that gap at 178.48 this week.
free ride down, no worries till Friday if than when earnings will be reported.
Can't have rising rates and stock prices going up, it just doesn't happen that way for more than a couple of hours at best.
just the beginning of the fall, earnings out this Friday before the open, that is on the 6th.
just like clockwork every year on cyber - monday retail takes a big hit, just the opposite of most normal investing, thats "the street of dreams " for you, just do the opposite of what your brain tells you.
Take that to the bank my friends.
Cyber Monday comes and retail gets crushed, one stock in particular will get unmercifully hammered today, that is Genesco, symbol is GCO. GLTA
not to mention we have eight straight up weeks with employment figures at the end of this week, expect Dow to head below 16,000 this week. No telling how long it will stay below 16,000 but thats where we are headed this week.
Bullish implications if that 135.45 is breached today, move to $150 sometime next week.
If this happens today we will see $150 next week.
should see move over $130, "outside week" still on the table with move over 135.50, GLTA