SPX @ 2070; NEXT 70 points are to the upside!!!!!

[JBinPA]

SPX hit 2070 a few minutes ago; it will hit 2140 before it ever sees 2000. Trade at your own risk!

 

[njfan47]

Quite bullish, JB. You could be right, but bullishness like that makes me cautious. I do agree overall about the 2000-2140 targets, but there could be a small pullback right here, as the markets reacted strangely to the jobs report. The worry was due to concern over the Fed potentially raising rates in the near future. But that is a non-concern, as it usually take three consecutive rate increases to even do any damage.

I did cover my SPY (S&P 500 Spider) short on Wednesday at ~ $209 for a decent little profit and usually when I do that, I am a little early, so I wouldn't be surprised to see a little correction here for 1-3 days. It would be healthy after February's advance.

 

[JBinPA]

Picking up FISV here between 76.94 and 77.00 for the ride to 2140!

 

[JBinPA]

Bullish? Only at the right times; I try to be balanced in my reporting.

For a month now, Marketwatch has plastered their webpage with 10 articles from "experts" all blowing that "crash is coming in 5 minutes" smoke.

As long as they continue down that path, I know it's safe to trade on the long side.

 

[JBinPA]

I'd expected 2070 to hold but the test of 2040 was to be expected I guess.

2135-2140 is still my target near term.

 

[JBinPA]

FISV 79.70 new ATH and should go higher !

 

[JBinPA]

Re:Market direction / targets

Well, markets seem to be going as expected on this end; hopefully we hit 2140 SPX early next week (IWM 127.5 - 128?). If we do, I"ll get much more attentive and probably be going to cash between 2140 and 2170. I then expect a pullback to about 2000 - 2020 which should occur quickly and would present great entries for the next run up.

We'll see if this plays out.

PS ... never do this, just wanted to try my hand at it; we'll see how it goes.