everyone, including me, seems to have targets to 40800/900 on T40F's - also coincide w S&P target of 18013/22 ish
--but normally feb should be last new high before market plays Lemming - so what is view on past 40900 and rather 42000ish.??
how much higher than 40900 must it go before give up those new shorts from 40900 ( many think tMr Market may well try this)-- well it is something to ponder. any comments?
Just my 2c but I think the TOP40 has seen its high for the year, if you look at the weekly MACD the major correction for 2014 has kicked off, but as we know mr market does not fall in a straight line!
But...if you look at history our markets have the tendancy to top or bottom before the US, they had a high momentum top and bullphases do not end like that, so very possible the US is going for a new high in March/April, where as we will only see the 42000 level again...then the mini bearmarket will resume!
More short term I am ready with my shorts as this wave B leg up is almost at its target (Monday?) before the red hanger sale starts again and mark the low of this phase by next week...!
Edited by Argento, 07 February 2014 - 04:00 PM.