NASDAQ 6,000? There's Some Pretty Smart Pros Who Think So
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Oh boy, here we go again. Markets gapped up this morning, and now appear to be heading lower - something our friends over at Viking Crest (www.vikingcrest.com) have continued to reiterate to their clients for a few weeks now.
Will they end up being right about their 6,000 target on the NASDAQ? There's an awful lot of traders and investors out there who hope they're right, because if these markets continue to move lower and lower, the buying opportunities are going to start looking more and more attractive.
Give it some time I suppose, but they also published some pretty interesting fundamental data this morning, as it relates to the divergence between earnings and the runaway move to the upside on the S&P 500. Basically, they said these markets are looking more and more like they've gotten ahead of themselves.