With the possibility of shooting back above 204 at some point this afternoon. The rest of the week will be equally volatile, but we will retest the all time high this month.
That statement makes very little sense, the result of brain washing by mass media. $60 oil is normal.
Because you don't get a crash when the Fed and the gov and big banks are still in control. As long as there is no noticeable inflation, they will remain in control and the market will move based on their plans.
We probably will re-test 205 by next Monday due to short squeeze, and depending on the outcome of a poker game of some 0.001% folks, it will either remain flat or re-test the all time high sometime before the Christmas.
Re-test the all time highs.
Big crash is coming next year. It is probably scheduled in March, when it is clear that the Fed will raise interest rate soon, not because of the "recovery", but because of the run-away inflation. Oil will be back to 100 in 6 months, and the tsunami of money printed in Japan and EU will hit the US soon. This is probably the best scenario that we get for the next year.
By 8:30 it will be red. China missed, so free money traders are parking the cash to US future. By 8:30 it will be moved to somewhere else.
They are hoping ECB prints another bag of euros to buy it up, in other words, transferring wealth from other countries to pop up the insolvent state.
You can tell that they are really scared when every minor dip is bought with utmost urgency. There are not many retail bears left in the market, so no more short squeeze (as is evident from this week's trade). It is now a suckers game. Big boys are waiting to see who blinks first.
OMG, there is no more hand-out from the Japanese gov. Time for running to the exit door. I am expecting a 50 point drop in S&P this week, and that's just the appetizer.
If you multiply volume by price movement, for the frauds to dump the shares that have been run up since Oct low, getting to 190 is required in the short term.
Hoping for the hand-out from G-20 over the weekend.
If you don't work, you cannot get free lunch forever. The crash might come today, might be delayed to next week, but it is coming. The fundamentals does not justify the stock price. You can print money to create a prosperity, but sometimes the reality catches up with you.
Good luck and have a nice weekend.