Friday 3 August 2012

2pm update - big ramp..now flat

Same old style of bullish nonsense...big opening gap/ramp..and then flatline it. Market may as well close now.


sp'60min






dow'60min



Summary

Dow a slightly better double top than anything else out there right now. Yet..lets be clear, the daily cycle is now ticking UP again. There really is nothing now for the bears to be confident about.

Is it not time for Mr Draghi to make another comment yet about how he'll do what is necessary?
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Well done Bulls..you win again. Despite the reality for tens of millions of jobless in the western economies...you won...again. All thats missing is the 'mutual fund Monday' rallies that we used to have.