Jan

2

Year Ends, from Ken Drees

January 2, 2011 |

Noting that the market was heading strongly down prior to the start of the new year in January 2008 and then back to back down hard into January of 2009. Sentiment was shattered, then there was a recovery year long market into January 2010 and a replay of good performance into 2011 January. So the previous 4 years are like pages in a book, a lobagola on a higher time frame perhaps.

So now the market must move into its own future once more– no pattern to reverse:

1450 S&P is the harolded number–why not 1500 —year 2000, 2007 high water marks round? Or is the 2 year party over and the bullishness of back to back years 24 months (only 8 down months) to be reversed? Noting that the last three Jans have been down months, it would seem that if a reverse year is in the offing that a bullish first month of 2011 be served up to get the old saws sharpened.

Party on?!


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