Another Friday of nonsense, we're now just 10pts away from breaking the recent high..and its all starting to fall to pieces for the overall bear case.
With just 2 more trading days left of July, a monthly close of sp'1360/80..would be dreadful for the bigger picture bearish outlook.
*consumer sentiment: 72.3 vs 72 expected. Clearly, everything is great for the American consumer.
*again, putting a black candle..warning of trouble for at least 'some' of the morning ahead.
I'm not expecting anything good for the bears today. I suppose a close under 1360 is possible, but..there just doesn't seem any momentum at all for the bears now.
We just earlier had a Reuters report about Merkal/Hollande will do 'all they can to save the Euro'. sigh.