The Market seems hard to grasp. You look at Sentiment, you look at Equity Options, you look at Volume & Flows, you look at Momentum (SUSI), you look at the state of the deleveraging cycle and all point to some nasty surprises ahead.
Dispite all of the above the Market continues to rise and the "consensus" tell us us that we are about to make the error of too much pessimism and that the economy will surprise to the upside...(after Friday's disgustingly bad NFP Employment data)
All of this against the backdrop of the boundaries of our 1938 roadmap which also went close to the the 62% TIME & PRICE coordinates (S&P500: 1220 & mid Jan. 2010) and the fact that the dollar refuses to move down again (Euro up) after the first impulse wave up.
If you close your Mind, lock out your fears and emotions and just look at your dashboard you need to see at least some correction for the bull to be real, anything else will only further exhaust an already upside exhausted Market (remenber OIL last year, doesn't Corporate Credit/Bonds feel like this this year.....?)....
No comments:
Post a Comment