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Registered User
Joined: 10/7/2004
Posts: 2,126
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triple digits for the dow, and about 35 plus up for the Nasdaq. Volume way above average - institutions and big players buying again. Breath turned around midday, and finished opposite of what we had yesterday - today about 2 winners per losser.
This looks to me like a reversal day. I cannot predict the future and I will not say that the downside is done, but the market may have some sunshine for a while. May be an indian summer in the fall - you know. Definately today's candle is to be taken into consideration. Tomorrow's forecast sunshine. It may be a few days before the clouds return.
good luck.
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Registered User
Joined: 10/7/2004
Posts: 319
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Could either be a Bear Bounce or the beginning of a Bull Market. If the latter, should have a high volume confirmation in 4-7 days. Today was a sunny day.......but the clouds and stormy weather are headed towards us here in South Florida. Hope Hurricane Wilma isn't symbolic for the markets next move.
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Registered User
Joined: 12/19/2004
Posts: 457
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I doubt this is the beginning of a bull market, but I can see the market moving modestly higher from here. I suspect we are going to test the highs at 1250 a few times before all is said and done.
My guess, sideways to up for the next few months, then down starting in Feb-March.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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and we thought that this past markets were cranky. The market didn't even see sunshine today for more than a few minutes at the opening - a glimpse.
It got cloudier than hell pretty fast. About 45 min to close and the market is basically were it took off yesterday, with a reversal in breath equal in reversed proportions to yesterday, and volume close, but not quite there. Well still about 40mi to go it may pick fast. This is as crazy as it gets.
good luck.
Hey RWPOD i wish you luck with dear Wilma. I hope she goes easy on the area. Let us know how you came out of it.
take care
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Registered User
Joined: 3/14/2005
Posts: 20
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I, too, was amazed at yesterday's reversal (on Oct 19). Before committing myself to a new rally I told myself "I'll believe it when I see it. I've been faked out before."
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