Day Trading – The Bullz And Bearz
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Goldman Sachs Predicts 1060 On The S&P 500
July 20th, 2009
Our good friends over there at Goldman Sachs came out this morning and placed a target of 1,060 on the S&P 500. A far stretch but actually pretty realistic over the rest of the year – NOT the next few weeks. Looking at a daily chart of the SPX you can see that about 952 is the first major resistance we need to break – i.e. the recent highs. Honestly, I would really like to get bullish here and buy up some longs, but I think it’s prudent that we wait for a slight pull back first. Maybe Wednesday or Thursday might be the day we can jump in. But right now it’s absolutley better to wait for lower prices on your long entries. Let’s see what the day brings us as we start to finish out the month of July!
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02-07 17:16
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Today's Live Market Quotes & Charts
| NASDAQ | 2904.08 | ||||
| S&P 500 | 1347.05 | ||||
| ^TNX | 1.97 | ||||
| ^XAU | 199.29 | ||||
| ^XOI | 1318.98 | ||||
| DUG | 22.37 | ||||
| UDN | 27.48 | ||||
| URE | 59.98 | ||||
| DIG | 49.76 | ||||
| XLE | 74.02 | ||||
| TLT | 116.27 | ||||
| OIH | 130.56 | ||||
| XLB | 37.63 | ||||
| DOG | 36.68 | ||||
| GLD | 169.70 |
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