dow 25 pts from hitting 10k

[strollingbones]

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[Paulie]

There will be resistance against 10k like we haven't yet seen since the March bottom, I'll bet my coming engagement on it bones.

Either we retrace hard at this point, or the market eventually gives in to the temptation to take it higher.

considering that next year, numbers are supposed to start looking good, my bet is that we'll break 10k eventually and never look back until the next bubble bursts.

Why retrace NOW, when we've got about 6 months to go until we start to hear about added jobs?

 

[manu1959]

9995.83.......

 

[Neubarth]

It done hit the barrier. All the greater the coming fall when people realize that the economy is still collapsing.

 

[Paulie]

I call a pullback to somewhere around 9000, and then it takes off past 10k.

Look at the chart. The only retrace we had was in July, and that wasn't much considering the economic environment we've been in.

Inflation is driving this market. The Federal Reserve is making a lot of people rich right now. Might as well play along rather than get burned.

 

[Mr. H.]

Nice to see the IRA finally bouncing back.

 

[eagleseven]

Ironic how we react to an insignificant, arbitrary level of a number.

What does a Dow Jones index of 10,000 really mean for the economy? Nobody can quite say, yet everyone is thrilled that it's over 10,000.

Humans are peculiar creatures...

 

[Paulie]

That's quite an absolute statement containing strawmen, but nonetheless, the securities market performing well has historically always preceded a recovery.

This might at least have SOMETHING to do with the excitement.

That, and all the liberals get to hand the credit directly to Obama.

 

[manu1959]

It done hit the barrier. All the greater the coming fall when people realize that the economy is still collapsing.

wrong again.....shocking...

 

[Paulie]

Makes me wonder if a lot of that stimulus money that has yet to be spent is sitting ELSEWHERE eusa_whistle right now.