Heading for the double top as we did not confirm Mondays top today as all markets closed higher even if it was marginal. The rest of the week is expected rather on the downside still.Next week should also have a negative bias thereafter we might can expect another test of the highs as the TRANS will head for 4400 and the VIX below 17.5 to close the deal. In the meantime some oversold sentiment data is improving as Rydex has climbed to .65 from .38 which is at least neutral again and ISE is over 150 as of todays close. The manipulation pool pushed markets today higher to create momentum and their target is to create a close above 1150 to spur some more short covering - it even might happen briefly late in March but that is just a trap. We will follow the next days closely to evaluate the strategy - Defcon 1 is still on.
1 comment:
"Defcon 1"...hee hee.
I always wonder about the stock market these days. Personally my family are out of it (semi-fixed investments, whatever that means.
I have seen the Zimbabwe stock charts before the crash and they took off like a rocket from Cape Canaverol...what to do?
What is your take on the Euro in the wake of the Greece and upcoming Italian/Spain/Ireland problem? Short Euro/Dollar?
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