…I am fully bullish above the 1225 level. …is the move over? The answer is no - it is only beginning. …weakness within a bullish trend is a buying opportunity. …we must consider the next possible levels of support. My hope is that readers…were stopped out. …higher prices and inflation will continue to weigh on the broad market. Is the market at a buy point? I say soon, very soon. …the bulls have since gained the upper hand. The trend, while in jeopardy, is still on the side of the bulls. …it would not surprise me to see 1320 or better for the S&Ps within the next few months…the benefit of any doubt belongs to the bulls. …we must remain long as long as the market is advancing. …a “sustainable growth” rally (expected for the weeks ahead). …selling has the potential to bring the S&P 500 back down near support at 1245. …expect quiet overall trading through the end of the year. Going forward, I am bullish on the overall market. …you should be using this rally to rid your portfolio of weak stocks which may have benefited from the rise and tighten up stops. give this market a moment to digest these gains. …January will be a positive month and that should bode well for the rest of the year as well. …we must be more cautious and risk averse. …we will see the next leg lower before we see the next leg higher. …the benefit of the doubt does belong to the bulls, but that doesn’t mean that I want to back up the truck and buy the market. …as we move into more choppy waters, it would be smart for investors to stand aside and let the trends turn back positive (remember, cash is also a position) or begin to acquire the skills of trading. stock market, including links to evaluations of the commentaries of other individual market pundits and gurus.Ĭomments from: David Nassar via See Guru Grades for a snapshot of the accuracy of various experts in predicting the direction of the U.S. David Nassar’s column has been discontinued.
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