Now that we have a confirmation of the bottom for Oil in 2009, and the bottom for commodities we can make a serious case for the cyclical bull market of 2009 to early 2010.
I believe we could retrace 50% of all the downside we have had since november 2007. This will also coincide with the long term resistance that are in place.
My targets for end 2009 early 2010 are:
$110 for the SPY (S&P 500 ETF).
$40 for the QQQQ (Nasdaq 100 ETF).
$102 for the DIA (Dow Jones ETF).
Charts please :
