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jowenmofield (98.55)

jowenmofield's CAPS Blog

Short term Market Correction!

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April 15, 2009 – Comments (3) | RELATED TICKERS: BGZ , TZA , FAZ

We probably saw the highs on Monday, April 13, 2009 on the major indices. If the S&P 500 falls below 830 this week, we will probably break down to between 780-800. If 780 on the S&P 500 holds, I would expect to see a multi-week or multi-month rally that would take the Dow above 9,000 and the S&P 500 above 950.

I would expect to see a gap down on Wednesday, April 15, 2009 for all the major indices. From those levels we may rally up but not exceed the highs on Monday, April 13, 2009.

3 Comments – Post Your Own

#1) On April 15, 2009 at 2:50 AM, StatsGeek (99.98) wrote:

So what you're saying is that if the market heads lower, it may go up or down from there. On the other hand, if it heads higher, it may go up or down after that. Thanks!

I have no idea what the market is going to do in the short term, but I am very, very confident that it will be significantly lower one year from now.

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#2) On April 15, 2009 at 8:21 AM, ralphmachio (< 20) wrote:

Stats geek- I agree, market is going down medium term, but i think we will be in a similar position 1 year from now, trying to put value on a market that is fallen lower than anyone thought possible. My guess is, another 10 -14 months from now, we will be picking up the pieces again, and their will be bulls, once again, as confident as ever, rallying on the hopes that the government will tell them lies.

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#3) On April 15, 2009 at 10:46 AM, kdakota630 (99.96) wrote: