That moving-average rollover is the mirror image of a bullish crossover that happened in March-April of 2003. That gives a significant amount of risk to the market.
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Bill Gross may have the most fixed-income assets on the planet but his ability to forecast what the Fed may or may not do is not very good,Richard Suttmeier
When we've had company-specific disappointments like this over the past two years, we've seen buyers come in after the midday to snap up bargains. If that doesn't happen, it could be very bad. We could see the Dow at 10,500, which would be a blow less than a week after everyone was talking about tripping over 11,000.
Richard Suttmeier
There's complacency in the market. In my experience, the correction (tends to be) a bigger one the longer you go without one.
Richard Suttmeier
It's not a big roaring bull market. It's just a slow but steady climb towards resistance in terms of the Nasdaq. We could get up to 4,400 or 4,600 by the end of the quarter. In terms of the Dow, we're getting closer to resistance and we're in the zone. Maybe we can go up another couple of hundred points.
Richard Suttmeier
What I don't want to see is the Dow fall below that October low, because then you're in danger of seeing a Dow 5,000 scenario.
Richard Suttmeier
You have so many unknowns. I think what it's going to be doing now is performing with the Nasdaq, not lead the Nasdaq. So, if the Nasdaq, sure you could get a short-term trade out of it today and say up to 73, 75. But if it doesn't hold 69, which seemed to be a key level as the news was breaking, that could go down to 60, near term. That's where I would put some longer-term money in.
Richard Suttmeier
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Based on Topics: Danger & Risk QuotesBased on Keywords: crossover, march-april, rollover
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