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helicopterfool (97.46)

March 2009



S&P 804

March 23, 2009 – Comments (5) | RELATED TICKERS: SPY

As an avid market watcher and blog reader, I think there is only one place that you have to look to see if this rally is going to take off (really big time).  Watch the S&P.  Will it break its 50 day MA?  Its been literally right on top of it most of the morning.  This was the point where it turned south last week.  The NYSE and the Nsdq have already broken through.  But the S& P is bigger.  Personally, I think it will break thru - but I also think it will only be a short term (day, weeks, months?) indicator.  If it breaks out, not only will alot of sideline money potentially enter the market - but the shorts will panic causing a further increase.  I see a rise is the S&P to the  875 area.  Longer term, I think all this stimulous will be inflationery.  Inflation, coupled with American demographics spells a longer term break of the previous low of 666.  [more]

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