Stocks Near Long-Term Resistance

Hi
Market surged too much in last 15 sessions and most of the stocks are in their long term resistance level, so what should one do at this juncture ?
khalid

I disagree totally..The stock market and its indices are heading up. Don’t jump out of the bull market until you feel a downdraft, otherwise you miss out on a great BULL run..

Noah

yea

Johns,

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Fundamentals become good with good delay. It could take a year after reversal to push unemployment and other fundamental numbers into positive trend.

Hi, now days there are lots of websites are offering financial news and help, I know one among of them called easystockalerts. It allows you to get the news before it even appears on the web. It’s like having a Bloomberg terminal at your desk, but only better! No spam, just very useful, actionable investment ideas.

The is a resistance around 972. Good for put option.

1000 is the resistance but that does not mean start shorting. I dont believe in trying to time the market, the outcome of that is usually not pretty. Let the market tell you what its doing and react accordingly. Taking into consideration that the market can very well respect the 1000 resistance level, start taking some profits and be cautious. But as others mention this rally can continue as a break through will bring in heavy bidding.

I’m a fundamental, not a technical, trader, but I do agree with you on some points here. The rally was driven largely by the financials. And you can’t even really call it a rally- its basically the market pricing out the financial armageddon that it priced in over the winter. Its like someone telling you “good news- we are not all going to die”. Not quite as nice as someone saying “good news- we will all get bloody rich!”.

So thats it simply put- I agree. We have gotten back to roughly 2003 levels, just prior to the massive surge that followed in 05 and 06. The question is, what will drive us higher this time around? At the time I don’t think there is anything, so at best we should be in a trading range for some time.

Are you guys still active? I trade stocks using technical analysis also, and just found your site.

Rodney

Inflation may drive us higher

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Pretty straight forward stuff

hi, in my opinion, S&P 500 is currently trading around 1060 points which is looking quite expensive. i am looking a big correction not in American market but all world market.

Hey Johns !! you starting this thing up again?

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stockcharts are my fav too,i love technical analysis but fundamentals should also be taken in mind before going for tech’s

How do you think about the Chinese A market? Have you ever stuied it? I am Chinese,LIving in Mainland.

I’m a fundamental, not a technical, trader, but I do agree with you on some points here. The rally was driven largely by the financials. And you can’t even really call it a rally- its basically the market pricing out the financial armageddon that it priced in over the winter. Its like someone telling you “good news- we are not all going to die”. Not quite as nice as someone saying “good news- we will all get bloody rich!”.
+1

so do you think we will break this resistance , i think there will be some correction but market will move further afterwards and also we might see a down rally for gold ,,

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