Chart Watcher: More Upside in April, Trouble in May

提拉米蘇烤布蕾

I agree with this commentary. Trading range to continue with the upper part of the trading range expanding slightly. Although the Dow Jones Average in general has been setting nominal new highs in the past year, no new high has occurred in the main indices since 2000 when you adjust for inflation.

Several weeks ago, negative sentiment hit very high levels. Currently the S&P is, from my observations, tracing a short term positive chart. However, the Chinese markets are very weak, LIBOR rates are moving up and today the Euro is very strong. Lot's of crosscurrents. This is a difficult market. The key S&P support is, my opinion, the 1350 to 1360 area. Everything needs to be watched.

im bullish through the summer(early) then im selling till fall/stay bullish

The .50 retracment as well as declining tendline resistance from last Oct. comes in just over 12900 by the end of the month. That along with the Feds next attempt to save us from ourselves, scheduled for april 29th should start the next leg lower.

This is a classic bear market rally. Bad earnings seen as good news, down is up, cheating and lying are forgiven. The consumer is tapped out, foreclosures and bankruptcies way up, yet the market keeps trying to go higher. The final high of the B wave rally from 2002 was in October; since then we have seen leg 1 down to the 1280 on the S&P, and now we are in leg 2 up. When this legs runs out of steam near 1400, then it's all down from there in leg 3. Hope you are ready when it hits.

I think therefore I am. Everybody is following the same theroy therefore it becomes reality. Talking is cheap and hot air rises but without the fundermentals to hold things up the market will surely fall. Step back and take a look at the whole picture. Everything looks like crap and all this bullshit about the market having bottom out just smells of high heaven. Its just repackaging the crap to sell to the greedy punters as usual. Its a game of chickens and let see who can run the fastest when the ball drops.

i can't believe the dow isn't at 11000, yet.... the horror comes thursday and friday... i've never been short till this week, way to many problems that tech ain't gonna fix... everyone's tapped out and saving

so short sighted. Short term sighted. Lets look at long term perspectives. The big players... not only look at daily... monthly... quarterly... avgs..BUT they look at LONG LONG TERM avgs. Right now! The big players are "tight". And have already reached the "hills". So if this is true. We should have a BULL market. And unless a stock is producing 40x times earnings (as they use to in the OLD'n days) The S&P will remain stagnant, until our Markets reach a new 'break through'. just my thoughts.