Monday, June 29, 2009
We are in a crucial window dressing week (end of quarter) and so far the monthly performance is neutral hence we can expect the manipulaters to push the market higher to increase the buying pressure. Second half of the week we can expect a pullback though. It should be a volatile week though as Uranus goes stationary on 1st July. We are still in the 830-1ß30 trading range I mentioned a few weeks ago and I rather had expected a pullback to 830 before the final thrust up but the sentiment indicators have come down quite a bit as Rydex and ISEE and the market is talking to much over a correction as it could happen right now. Mid July is a more likely point of time for a corrective move but weakness can be bought by traders as we will see the SPX above 1000 since its a psychological hurdle which will be taken out and trigger follow through to the 1030-50 level. I do not agree to the calls that we had the lows already which also Mr Doom and Gloom claims these days. We are clearly in wave 4 up and need wave 5 down which will happen in Q4 09 - Q1 10 to a drastic new low around 500 SPX if not even 400 before we might see a longer upside consolidation will kick in. No severe downturn ever ended with a 15 times PE ( and that's stilll the fake version) but more importantely the forces behind the scenes want a global crises to make a leap in their agenda. The Rothschild / Rockefeller gang needs people to be in panic to make the legal and administrative adjustments for their New World Order and as in 9/11 they need some dramatic events to steer people into their direction.
Posted by getagrip at 9:46 AM