Tipping point? Or tripping point?

At this moment we donindu

Át this moment we don´t know whether we are at the tipping point, or at the tripping point.  The Dow and the S&P tiptoed across the magic mark (Dow) of 10000 and hesitated.  The incessant baying of the punditry makes one think tha the trend will continue — because they are setting up a fearful howl.  10000 is the magic resistance point.  The rally has hit the magic 50% recovery point.  Yakity yakity.  Blah blah.

This is of course magical thinking, as psychiatrists say.  Instead of running around like chicken little we will ask the market in a couple of days, ¨How ya feelin old boy?¨  and then we´ll know. 

spx

Through the use  of crystal balls and magical thinking the pundits identified 1080 as an S&P resistance point.  We actually think it´s cleared resistance — one reason we think the trend will continue.

But for the nonce readers can enjoy the sight of pundits running wildly about trying to foretell the future.

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