SET Index : Bernanke wants the SET higher.
May 1, 2011 Leave a comment
We think 1140 or so is the next valid target for the SET, and given the LT Fibo 61.8% is around the 1200 mark, we like many others can see it being hit in the not too distant future.
In short, the madmen at the Fed want stocks to go higher. Just look at a longer term chart of the Dow below. The Thai market will surely go higher, and for the next fortnight we view 1140-1143 as the target zone. When taken out, a move to 1180-1205 is certainly possible, and maybe sooner rather than later.
The Dow is easily going to hit the 13k mark, and could indeed go all the way to 14k or so thanks to the insane and totally irresponsible policies of the Fed. You would have thought they would have learned a lesson from last time, when Greenspan got it so wrong. Alas, these fools are in the business of blowing bubbles, and this one will be even more catastrophic when it pops than Greenspan’s fine effort.