Wall St. Adage- Dont Fight the Fed
Is it really wisdom or just plain old follow the herd mentality? This adage will be tested in the future, so far so good.
Well Summer has pasted, where Bear Market Paranoia was entrenched in all our minds this summer, including my own. The summer falloff corrected some of the bull market gains and provided the necessary doubt in most investors minds to fuel a new high, forcing them to chase or in most cases cover their shorts.
Forecasts still look rosy.
I see a top forming by next week, as the SnP should hit 1250. Then a correction into the end of December, followed one final push into March 2011, where the bull market top will reveal itself as the cycles from low (March 2009) to high (March 2011) will once again rein supreme, as other past cycles have proven.
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