2 replies to this topic

[relax]

Haven't we been moving up as the dollar dropped, Now the dollar is strengthening and then stocks move down Nonetheless I think the market has overreacted (human nature) with regards to rate hikes Fed will not hike rates, but as the market had priced in a rate cut, which also is unlikely, it seems fair enough with this correction Draw a vertical line down your chart when ECB and Bank of Japan have hiked rates and you will see serious technical damage even though we all know it is coming the damage will be repeated and we all know Bank of Japan and ECB will hike later this year - things will get worse this year But 2008 should be good (don't forget armstrong cycle)

[Tor]

Bears need something!!! hehehehe That said i may or may not go short next week. Just depends whats happening.

[relax]

the bears need some fuel

just like the bulls do

the bulls got their shine friday, but currently bears have the upper hand

Resistance levels will not be broken

What last week make even clearer for us is that interest rates are key

so any strong data should be negative for the bulls, just as high inflation as always will be bad for the bulls

For the dow 13509 is 50 per cent of the move down from the high of 13.768 to the low of 13.250 (not sure if this is the exact figure) - I am keeping an eye on this level

Right now we almost had the 0.382 retracement, which is at 13.447

But rate hike from bank of japan makes a collapse in stock prices inevitable

Bears need something!!! hehehehe

That said i may or may not go short next week. Just depends whats happening.