Tuesday, 7 August 2012

1pm update - why would it stop at 1422 ?

No sign of a turn...quite the opposite in fact.

In fact, it is laughable when you consider the bigger monthly cycle, which recently went back to outright bullish.

sp' weekly

sp'monthly, rainbow


Sure, we could form a double top at 1422, but why would it stop now? We know the central bank lunatics are going to do more.

Clearly, there shouldn't be any serious money bears in any positions now. They 'should' have got the kick somewhere between 1380/1405.

1400 has fallen, and 1422 will probably fall too. After that, first target is 1450.