The Dow Cash finally gave me my 11,469 print today. Traded right up to 11,499.70. Right now its 12:08 Chicago Time. I can’t believe we won’t get that 15,000 print, just to give the TV commentators something to crow about. Look for that Newsweek or Time cover (or some other weekly periodical) with a cover story touting the “5000 point OBAMA RALLY.. If they don’t they are missing a marketing opportunity..
Now its time for the Dow 20000 touts to pop up. Like a shooting gallery, they are sitting behind their office doors, waiting to be on TV… All I can say is Beware…
Next target, if we settle above 11,500. Before you get too frothy and bulled up, the old high was 14,198 back in Mid October 2007. We have now rallied more than 62% of the melt down which took us down to 6469 in March of 2009.
Upside resistance for Dow cash is 11,800, 12,400 and then 13,150…
I will run the numbers for the Cash S&P now. Cash S&P has pierced 1245. The next major resistance is 1300.
If the whole world wakes up Jan first and decides that indeed, the water is warm, Jaws is gone, and the lifeguards are giving the thumbs up,,, we could have a tidal wave of new money pouring into stocks.
That’s all I have to say about that.
Good Trading
CER
