Comments on: Wall Street Start to 2009 http://www.investmoneylab.com/stock-market/us-stock-market/wall-street-start-to-2009/ Invest Money Makes Easy Mon, 23 Nov 2009 08:55:56 -0600 http://wordpress.org/?v=2.9.2 hourly 1 By: KP http://www.investmoneylab.com/stock-market/us-stock-market/wall-street-start-to-2009/comment-page-1/#comment-941 KP Tue, 06 Jan 2009 14:19:14 +0000 http://www.investmoneylab.com/?p=590#comment-941 Hi Tom, thanks for your great input. I think the market has hit a resistance now at 9,000 level. Hi Tom, thanks for your great input. I think the market has hit a resistance now at 9,000 level.

]]> By: Tom Chechatka http://www.investmoneylab.com/stock-market/us-stock-market/wall-street-start-to-2009/comment-page-1/#comment-928 Tom Chechatka Sat, 03 Jan 2009 16:20:30 +0000 http://www.investmoneylab.com/?p=590#comment-928 Don't feel bad about Friday's Dow close above 9000. It probably will not hold long. Then again, following a pending sell-off (probably beginning -- and ending? -- next week) delivering losses possibly approaching -10%, a robust advance could unfold. Sideways trading over the past month is demonstrating "consolidation" of gains made off bottom on November 21st (which gains were accompanied by strong volume, indicating a "vested interest" has put a floor under the market, at least for the time being). So, following the present consolidation the market could explode upward. First, though, this sideways action might not yet be completed. At least one more trip to the low end of the range of the past month appears in store. Don’t feel bad about Friday’s Dow close above 9000. It probably will not hold long.

Then again, following a pending sell-off (probably beginning — and ending? — next week) delivering losses possibly approaching -10%, a robust advance could unfold.

Sideways trading over the past month is demonstrating “consolidation” of gains made off bottom on November 21st (which gains were accompanied by strong volume, indicating a “vested interest” has put a floor under the market, at least for the time being).

So, following the present consolidation the market could explode upward. First, though, this sideways action might not yet be completed. At least one more trip to the low end of the range of the past month appears in store.

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