I am wondering about the power outages and the capability for the nuclear power plants cool the reactors for a long time without energy. Sandy passed throw at least 12 nuclear plants…
There should be some selling before the end of the year of course, but I’m not expecting a huge drop now. This Hurricane Obama will not only get him re-elected but the re-building afterwards will likely boost certain stocks… which I expect will then be used to keep the market from dropping off a cliff.
Then there is the usual “Santa Rally” when all the traders take off for the holidays and keep the selling pressure to a minimum. This tells me that we’re going have a choppy and slow decent in November and then a light volume rise in December.
Overall, a very controlled sell off and rally back seems to be likely. After all, what hurts the most traders? Choppy, trendless action of course. That’s what I expect for the rest of the year.
While that FP of 1065 has been given to us I doubt that we’ll see it this year. I doubt if we’ll see 1200 SPX.
Nah… I doubt it Morpheuz. I expect some choppy action between now and the rest of the year. The Legatus move is over with now. While we should still have another wave down after an “election” (and Hurricane) rally, I don’t see any crash this year.
I am wondering about the power outages and the capability for the nuclear power plants cool the reactors for a long time without energy. Sandy passed throw at least 12 nuclear plants…
I wonder if they are going to delay the election because of Hurricane Obama knocking out some many peoples’ power?
assuming we have one. Surprised how hard we got hit over here in NY
I think it’s just going to chop around going nowhere until the election is over with…
would’ve thought the volume would’ve been a bit heavier given the hurricane
SPY Chart analysis: http://niftychartsandpatterns.blogspot.in/2012/10/spy-chart-analysis_31.html
ES at resistance levels: http://niftychartsandpatterns.blogspot.in/2012/10/es-resistance-levels.html
Thanks David, I watched them all….
There should be some selling before the end of the year of course, but I’m not expecting a huge drop now. This Hurricane Obama will not only get him re-elected but the re-building afterwards will likely boost certain stocks… which I expect will then be used to keep the market from dropping off a cliff.
Then there is the usual “Santa Rally” when all the traders take off for the holidays and keep the selling pressure to a minimum. This tells me that we’re going have a choppy and slow decent in November and then a light volume rise in December.
Overall, a very controlled sell off and rally back seems to be likely. After all, what hurts the most traders? Choppy, trendless action of course. That’s what I expect for the rest of the year.
While that FP of 1065 has been given to us I doubt that we’ll see it this year. I doubt if we’ll see 1200 SPX.
Nah… I doubt it Morpheuz. I expect some choppy action between now and the rest of the year. The Legatus move is over with now. While we should still have another wave down after an “election” (and Hurricane) rally, I don’t see any crash this year.