Tuesday, May 7, 2013

The Weekly Outlook - $DJIA $SPX $NDX ~ With My Neck Out

*****I suppose my head is just a choppable as Marie Antoinette's  so I decided to stick it out officially and mark the chart with my earlier look at the possible.  My declaration then was a bit scary because it was at least 500  points away on the $DJIA.

I often say to trust your gut/intuition to traders so it also behooves me to practice what I preach, still, I know that numbers are the toughest to predict because the Universe does not think in our tiny linear time frame. Besides which, it is such a vast big Universe out there that most of us cannot even conceive yet alone comprehend, yet I got this number, I declared it and now, I published it.  Of course if we look and wait it may never happen and on the other hand if I ignore it, it most certainly will; whereupon I will be left saying, "I told you so" which I also dislike with a passion.

One thing is for certain, anything that appears to be close can be very far away or as close by is measured  in the Universe. Just look at a full moon for an illusionist comparison. Look, see how close it is and still so far? So you see, that very close look could be weeks, months away if we have a severe reversal.  Much can happen between now and then but if all is on track, around the 15th is when it's supposed to hit, barring  pullbacks, sidesteps and other weird dances that the market likes to do. So please stop your knitting Madame Defarge and don't roll out that guillotine quite yet.

McCartney,P&..-Wingspan1-16-With A Little Luck (DJ Edit) by McCartney, Paul  & Wings on Grooveshark

Happy Trading, Living and Dancing

The Daily Pick - $DJIA $SPX $NDX

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