Saturday, March 28, 2009

It's getting fun again

No, not a bull market where every monkey with a dart can make money. Rather, it is the sparring between bulls and bears. Some are calling for a continuation to S&P 1000 before the bear market reasserts itself. Others say that the rally is already fading and indeed peaked Thursday.

Still others dragged out the 20% rally is a bull market nonsense - but they were media wonks. How about this one? A Fibonacci 38.2% of the entire bear market is roughly 1014. What do yo think? That is a lot more palatable for a bear market rally than calling it a 50% rally up from the low.

But back to the fun. I think everyone it wrong! How's that? I'll stick with 875.

1 comment:

Paul O'Cuana said...

I wouldn't be surprised by S&P 1000 given the incredible 10 to 1 Up Volume days we've had.
Also, professional sentiment (Investors' Intelligence) is still pretty subdued.

Btw, isn't there a cycle low coming up soon?