Several analysts, who use technical analysis, have released bullish reports on the U.S. equity market this morning. Most notable was Dennis Gartman. He has classified recent strength in U.S. equity markets as a “watershed”. Weakness is to be bought rather than strength sold. About 30% of S&P 500 stocks are trading just below key resistance levels. Modest strength will trigger significant technical buying.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Thursday, April 3, 2008
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