Cramer Agrees WIth Our Melt Up Theory
On Mad Money last night Cramer basically backed up our theory of a huge melt up in the markets to above 1,200. It was just last Wednesday that we wrote our theory and we had originally brought up the idea over a month ago. The comments on SeekingAlpha.com were pretty negative regarding the concept of the market moving 1,200+. Hmm...maybe we'll get the last laugh. He uses chart analysis from Dan Fitzpatrick so its backed my more then just his crazy ideas. Fitzpatrick even thinks a move to 1,272 is very possible. See below for the video and his 6 reasons to back up the chart: Cramer is taking a deep dive into a graphic representation of where the market can go, courtesy of Dan Fitzpatrick of RealMoney.com. The technicals point to a "head and shoulders" pattern and just about any way you look at these charts, the S&P looks to go to 1200. Based on the furthest distance from its 200-day moving average, Fitzpatrick also thinks the S&P could go to 1272, which is a 24% m...