It certainly made plenty of sense to me ! Welcome to my world ! :toung:
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Still at least 1000 S&P 500. (Not a recommendation to buy by any means unless you plan to Buy and Birch. It's too late to jump on board today.)
Sentiment wise: Still too many people looking to call a top here so they can utilize their newly discovered 3X bear funds.
Nah-
Top will be between 935 and 950. Then we go back downward for a while.
Soon as we hit that 200 day moving average (around 940 by then) we're toast.
You heard it here first. :-)
That's what I like - keep'em out as long as possible. Continue to build those fear levels.
Just a Goober's Guess:
Market Top will be 950 - 1000...
I don't know any charting and haven't heard any great stories or whatever. But, I do think the market panics of October/November and early March were rather stupid and rather insane. We needed a correction, not a panic.
So, with my beer blury eyes trying to focus on some squiggly lines, I will assume a standard correction curve and ignore the panic selling periods. That leaves us at 950 - a 30% correction bear market.
With the news that Congress and the Administration were about to open their yaks I moved to a very conservative allocation this past week. Uuuummmm, just before two very good market days. Caught some of the growth though. At my age, I should be heavily invested in the market.