sp'weekly8
sp'weekly4 - hyper-bullish outlook
Summary
If I wanted to, I could probably double my web traffic (literally overnight), all I would have to do is issue a post with the title 'sp'1000 within 6 months'. Yet, I'm not interested in going that route of touting doom merely to attract attention, not least when I no longer believe in it myself.
Permabear... not so Permabearish
No doubt some of you are getting increasingly annoyed by my lack of 'doom' posts. Despite my chosen name, I will endeavour to post things as I see them.
As a number of traders/posters have noted across the last few months, there is often a backlash - sometimes pretty fierce, whenever someone perceived as a 'doomer' touts anything even remotely bullish.
I'll sure as hell tout further upside until I see either QE end (in full, not the taper nonsense), or a huge deterioration in the economic fundamentals.Neither of those two issues look likely in the mid-term (3-6 months), and thus..I continue to see further 'broad' upside into spring 2014.
A video from 'Thanos', which brings up part of what I was raising yesterday...
The 'Greg' character that Thanos is referring to, continues to tout 'imminent crash', day after day on youtube. It has become more than just boring, or just a 'bad trading call'. It is becoming somewhat contemptible. That is probably overly harsh on my part, but still, its not like we're in the sp'1500s..or even the 1600s anymore. We're in the mid 1700s, and the 1800s look very likely next month.
Anyway..enough of that. I would hope you get the point by now.
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Looking ahead
Thursday doesn't have much, other than the usual weekly jobs data, but Mr Market certainly doesn't seem to care much about that lately.
*the next Sig' QE-pomo is not until next Monday.
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Where will we close this week? The sp'1740/30 zone looks a very tough zone for the equity bears to break and hold below. Indeed, considering the QE, and mainstream confidence that QE-taper can't occur until at least next March, a weekly close in the 1750/60s looks viable, which will keep the broader upward trend very much on track.
Goodnight from London
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Always worth seeing, for those that have the time!
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