Who could have guessed markets would rally in an ocean of bad news:
Who knew you could miss earnings, lose millions in revenue and your stock price rallies like Microsoft, Boeing, and Google. BestBuy which is a horrible performer in economic downturn also slashed guidance and their stock price rallied 10%. This market has become an utter joke and its pure manipulation due to QE and Buy Backs. At this point, I'm bullish. The more the bad news, the higher the market goes.
Targets for S&P
- 4209
- 4293
- 4340
If we break the dotted yellow line, we could see this going up towards the 4300 mark to the MA of 4350ish. If WWIII gets announced, I suspect this will rally to well over 7,000 or higher. There is no danger of a double top either at 4200, that is now a myth. Recession is a myth. Americans are actually FLUSHED with cash and prices aren't high enough and things in the US couldn't be better.
- Worse than expected CPI
- Worse than expected PCE
- Worse than expected Chicago PMI
- Joblessness Rising
- Missed Earnings
- Q2 GDP Contraction in Recession
- Collapsing Home and Auto Sales
Who knew you could miss earnings, lose millions in revenue and your stock price rallies like Microsoft, Boeing, and Google. BestBuy which is a horrible performer in economic downturn also slashed guidance and their stock price rallied 10%. This market has become an utter joke and its pure manipulation due to QE and Buy Backs. At this point, I'm bullish. The more the bad news, the higher the market goes.
Targets for S&P
- 4209
- 4293
- 4340
If we break the dotted yellow line, we could see this going up towards the 4300 mark to the MA of 4350ish. If WWIII gets announced, I suspect this will rally to well over 7,000 or higher. There is no danger of a double top either at 4200, that is now a myth. Recession is a myth. Americans are actually FLUSHED with cash and prices aren't high enough and things in the US couldn't be better.
Trade active:
We hit resistance at 4340 area, and now has resistance at 4210.
