re: weekly1b: a minor net weekly gain of 5pts (0.3), settling at 2052. Most notable, a lower high... and lower low. First resistance is the 10MA... around 2060. A break back into the 2100s looks out of range, not least as the market is (mistakenly) now under the belief the Fed might raise rates in June (or July)... and there is the looming BREXIT vote of course.
re: monthly1b: a May close under the 10MA - currently 2014, should be a target for those equity bears seeking major market upset in June.. and perhaps across many months ahead. It not absolutely essential.. but it sure would help instill some confidence!
Four years ago I started this blog, having originated from the ERX board on Yahoo! finance. The only intention was to post once a week. Naturally, being the obsessive person that I am, it soon spiralled to eleven posts a day.
As of this post, I'm at 11,020, which is a pretty bizarre thought.
I have endeavoured to strike a balance between the 'end of the world' crowd at Zerohedge, and the cheerleaders of clown finance TV. Despite being self-titled 'Permabear Doomster, I think I've managed to achieve something more balanced than either of them.
Like the lead character in the movie Office Space, I don't want to have any bosses ever again. Nor do I want to do the daily commute ever again.
The point is... I want to do this for the long term.... a writer... and a trader.
I simply don't want, and can't imagine doing anything else. If I'm to continue though for many years to come, I need to derive at least some income to justify it.
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Posts from next Monday
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Goodnight from London
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