I second the bullish look. For the record I have sell signals for gold ($535) and oil ($63), and as much as I don't trade them, they are reverse indicators for the market. Also we just had a few days consolidation after the big rally on the first day of the new year. So going higher is just a no-brainer at this point.
really - so it is A FACT that there is no risk? so you are in EVERY night - now and forever? and there will never be any risk? really?
Yes, right now, technically, the up trend has room to go higher. There will be minor corrections, but we will go higher. INDU > 11000 is almost a certainty right now by end of the month, if not over the next few hours or days. No matter how low VIX, PC ratio are, expensive commodities gold, oil, inverted yield curve, dollar going down or whatever, people all over the world seem to love equities right now, and don't want to hear any negatives. fighting this stampede is futile. too early too short I guess people were expecting equities crashing in 2005 with oil rising, hurricanes wreaking havoc, terrorism, political unstability, and nothing happened, equities went up. US equities went up a lot in yens and euros. so they think, 2006 can't bring worse news, so equties can't be safer. EDIT I also think the MRC is nothing but foreigners, i might be wrong but the more their stocks go up eurostoxx, nikkei blah blah and the higher goes the dollar the more they want US equities
I'm not trying to put anyone off their trades, I have been trying some of the suggestions Steve46 has been making with regards to preparing for the markets, and doing homework. I had 10989 as a my sell point which is R2 but the price didn't get there. I suppose one should use the pivot points as guidelines - +10 points with wider stops to manage the trades. Good trading everyone!