Top Line: The market Seems to be in a down move right now but the holiday and the bullish position in the pattern is holding it up. We'll see if our target of next Wednesday being the low really happens. Surprises, at this time, are definitely to the upside.
This is a brief post to let you know that with the market being closed for Good Friday, our next post will be Sunday evening.
Today's rally seems to be based somewhat on the Micron news. Micron said they would be raising capital and that they had funding for it. Ok, Micron isn't known for their stable income statement so the mere fact that they are able to raise funding in this environment may be a good sign that risk taking is alive and well.
We still think the market wants to go down a little but the next move up may be pulling it up already. In any event, the market is getting ready for a big up move. We think that the Dow will jump about 2000 points in the next month or so.
We wish you a blessed Easter.