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Jim Greening asked for opinions on the market. The only thing worse than and
more difficult than trying to predict interest rates is trying to predict the
stock market.
I'll go out on a limb. Any pullback should be moderate. The background news
is not the greatest but, really, the market has handled it fairly well.
Using the DJIA, 7600 is the key. If it breaks below that then you are
looking at maybe 6900.
I think the press screaming about the 1987 crash is part of the problem at
the moment. Very few writers are telling the investing public that the two
eras are like apples and oranges....completely different. The main factor in
any pullback will be "emotions vs common sense." If emotion wins out, then
the market has a problem.
Sooooo....my prediction, a moderate pullback maybe to 6900-7000 and then most
likely new highs by then end of the year or early next year.
Jerry
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