- we clearly broke the elliott wave falsification line and now need to break the former high (S&P 500: 950 area) for the bull case....
- the weird news flow from Roubini to Meredith W.....
- buying pressure and new highs have turned bullish
- Vix_OSC has turned bullish
- ...if SUSI can take out the previous MAY/JUNE SUSI readings then we'd be on to something really bullish, maybe even a late summer "melt up"
, but the fact that all happened in the OX (option expiration week) against the backdrop of lousy fundamental data (check out this CP info related to lending) like lending or employment, like production and hourly wages etc., makes me wonder if this "weird" momontum is sustainable???
In the end Mr. Market is always right and we have to respect this so let's have a close eye on the 950 area
Hi,
ReplyDeleteI have been watching your blog for a while. It is excellent. I am all cash but miss this 8% gain this week. Regarding this mad bull, do you suggest get back to Longs, like QLD and SSO or wait possible pull back? Any suggestions?
Thanksa lot!