Mike Smith

Apple's Low Volume: Meaningful Pause Before Going Higher?

I don't really see how we could hit $240 this year, but I could believe $210 by December and $240 by April.

Apple's Low Volume: Meaningful Pause Before Going Higher?

The S&P 500 has been comfortable above it's 100 month average for a hundred years. The advent of the computer has raised production in the last 20 or so years, and we got a huge run up between 95 and 2000 with a correction in 01 and 02. Then we went in 5 years to a slightly higher high in 07 which was a little too fast (typical). At present it looks to me that we are near the bottom of a year long "U" shaped correction just above the 100 month average. I would expect everyone to remain cautious through the summer and jump on the band wagon when the market turns up in the fall. We'll probably take it up a little too fast until May when it will be time for another shorter correction. After that look for a couple of good years, but with the same type of action- up too fast-correct, up too fast- correct, over shooting in both directions.