This market has shifted from a downtrend to an uptrend. It took over 2 weeks, but we've finally put in a bottom. Disagree? I know many will. But the strong support we've seen anytime the market gets around 1260 and the ease with which we get up to 1290 tells me we've bottomed. Any 15 point pullback till early August is probably buyable. Right now, I am eyeing 1275 as an area where lots of bulls will be looking to get back in. Hoping for 1260 anytime soon should be erased. We now have built the wall of worry on our way back to 1330.
By the way, my last post on Europe's decline hit some nerves. I have strong opinions and hold nothing back. There is nothing politically correct about this blog. If you want to hear comforting views, find another blog.
Subscribe to:
Post Comments (Atom)
Posts
1 comment:
watching cnbc. this greek vote is a joke. again, deflecting from the real story which is a weakening world economy.
Post a Comment