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Flourishing filaments


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w?s=%5EAORD

 

 

It could be a consolidation at the highs but on the daily chart All Ords closed right under a VERY strong line of resistance. I'm expecting a pullback tomorrow. Not much changed in the sectors: IT +4.4%, Consumer Discretionary +1.4%, Utilities +1.3% and Gold -1.2% remained the only down sector.

 

Asia green: China +0.7%, Honkers +1.1%, India +0.9% and Nikkers +1.9%.

 

 

On to UK/Europe:

 

 

image;size=239x110

 

 

 

image;size=239x110

 

 

 

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looks to me like some sharp profit-taking today by shorts, but this correction is over now and the downtrend has resumed - already down 2 on SP in nite session

 

bears could easily recoup the last few days' pullback by morning and break it down to fresh new lows for this move

 

still looking for 1050 by Aug, could be a lot lower if more European countries default

 

Let me do the antipodal sarcastic position to Shorty's:

 

cow21.gif

 

This panic buying cycle :lol: could just be starting. Just wait til fun manglers have to throw in the towel to chase performance.

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Five Charts That Prove We’re in a Depression and That the Federal Reserve and Washington Are Wasting Money

 

http://gainspainscapital.com/?p=1508

 

 

That's really useless information. If all you look at is the ultra long term perspectives, what do you do? Stay short through the whole bull market? There have been massive bull markets in depressions before, and there will be again. It's of no use whatsoever to be constantly yelling that the sky is falling when the central banks are printing money and pushing it into the markets.

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