Friday, 23 October 2015

11am update - which part of the October candle is bearish?

It is remarkable that despite another set of decisive bullish technical breaks, the bearish chatter continues in some places. The current net monthly gain is an extreme 151pts, a truly mighty 7.9% . Yet still.... there is chatter of a 'blow off top'... 'reversal underway'.



Trading above the monthly 10MA.

An outright bullish green candle... negating almost all of the weakness from May-August.

... and yet.. the bearish chatter is out there.    Simply... crazy.

*ohh, and Nasdaq comp'... back above the giant 5000 threshold.


notable weakness... Oil

USO, weekly2

With the USD pushing upward.... Oil is not able to be part of the broader market bull party... and I'm no longer involved in that mess.

time for lunch