No replies to this topic

[voltaire]

RUT and NASDAQ have completed a minimum blow-off to be sure. Gaps and all. DJIA and SPX have not. Do they need too? Dunno but would add weight. You would expect some stagnating days to be indicative NOT just a sharp day down. The probable target of any blow-off action and its reaction would likely be below the June 24 lows. Need not be a lot but enough to scare everyone. YES, I am still bullish on Australia and probably emerging markets generally. Because these have suffered harder in the last decline, I suspect they will be actually more resilient if the dreaded action happens.