Thursday, 16 August 2012

2pm update - melting...I'm melting...up

Slow motion, near zero volume, bear short-stops triggered, and now so close to the April peak of sp'1422.

Both the weekly and monthly cycles suggest 1422 will be hit..and we'll have a good chance at 1450/60 by mid September. Maybe its time for Draghi to make some more comments and alude to an LTRO'3 ? Thats gotta be good for another 5%.



The underlying issue is can this market hold together during the tricky Sept/Oct' period.

The remaining doomers keep mentioning the German court ruling on the ESM (due Sept'12) but hey, they could further delay that ruling indefinately if they really wanted to.

Is it the weekend yet?