We could be looking at the mirror image of what happened in April of last year, where we got above the 50-day and 200-day averages and then the trend turned up. The risk of rolling the other way is the opposite of that action.
More Quotes from 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
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
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.
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
The market is looking for that soft landing. If we can get through the productivity unit labor cost next week, and they are benign, and it takes the Fed totally off the radar screen, then we'll get a relief rally, but not a bull market. So we're in a non-bear market, non-bull market. We're in a trading-range environment.
Richard Suttmeier
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