Do you think the current rally in the stock market will continue?
What are your thoughts on the direction the major indexes (Dow / NASDAQ / S&P) for the remainder of 2011?
Huge momentum going on this run up. Now entering Week #4 of moving higher without much of a reason. The Russell 2000 has skyrocketed nearly 20% from its low early this month.
The markets finally escaped the confines of its eleven-week-long trading range just yesterday.
The small caps have been emphatically stronger lately. Today, for instance, the Russell was up about three times as much as the S&P 500.
Many of us have noticed that the big indexes are all within spitting distance of their 200-day moving averages. Nowhere is it written that prices aren’t permitted to cross such levels. But it sure seems like time for a pause. Momentum is stretched like a rubber band. Any sign of weakness and the bears are hungry, could it be a feeding frenzy?
Still a bear market rally so far. Watching closely at these levels for a rollover on the 15 and 30 minute charts. Gimme a nice separated lower high and I’m good to go short.
If it doesn’t break before the big news out on Wednesday from Europe, that may well be the shorting opportunity of the year (buy the rumor, sell the news), especially when we get some cold hard facts of how this is going to get done thrown on the flames of this rocket.
George Soros Bets $1.3 Billion on Stock Market Crash