Best 15-day rally in 70 years

Best Rally: Markets rallied from SPX 666.79 on 3/6/2009 to SPX 832.98 on 3/24/2009. H/L 166.19 points, 25%

The market rally of 25% H/L and 20% gain is its best 15-day rally in 70 years.



Economic data



CONSOLIDATION: After the market rally of 25% H/L and 20% gain is its best 15-day rally in 70 years, markets will consolidate retracing 30%-50% for the bullish case to SPX 755 +/-, DOW 7225 +/-, Nasdaq 1425 +/-, and Qs 28.60 +/-. However, we have the EOQ mark-up and G20 meeting during the next week going into the Q1 earning report in April; hence, volatility will continue as VIX and CPC volatility reading is very low signaling higher volatility during the earning reports. For those who missed the rally from 3/6/2009, waiting for a pull back is better than chasing the markets at this time. Of course, the EOQ positioning is the game which fund managers play.
http://trend-signals.blogspot.com/2009/03/best-15-day-rally-in-70-years.html

Market Pivots
Qs 32 +/-
SPX 830 +/-
DOW 8000 +/-
Nasdaq 1600 +/-

Breaking above SPX 830 +/-, markets will trade to SPX 1000 +/-.


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