Here Comes Dow 9,600, SP 500 at 1,042 and Some Investment Ideas
Bullish Bankers (June 6th, 2009) Writes:
Sometimes accepting “what is” happens to be counter intuitive. That’s the way it feels right now with the DJIA above 8,700 as I write and the S&P 500 at 945. The trend for this bear market rally is powerful and it will be meaningful to see how far it goes.
From a technical standpoint some important indicators such as breadth, advances versus declines, volume and moving averages are signaling that this rally has a ways to go yet. The markets are shrugging off the GM bankruptcy and other bad news, at least for now.
One of the better technicians that I collaborate with is my friend Richard Wendling who writes the ever-interesting web site The Bear Facts Specialist Report at :
http://www.bearfactsspecialistreport.com/.
I sincerely encourage you to read his May 29th NYSE Dow Jones Market Report http://www.bearfactsspecialistreport.com/. Richard believes that if the DJIA can break above and close above 8,700 that the next
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