Tuesday, 6 November 2012

Closing Brief

A very slight rollover this afternoon, but the broad market closed with gains of around 0.75-1%. All things considered, another victory for the bull maniacs who think everything will be fixed once a new man takes command of the American empire.  Clearly, GDP is about to soar from tomorrow morning onward.




Another day for the bulls to have a good laugh at, not least the nonsense that was the sudden ramp at 11.30am..all based on the usual rumours, lies, and utter delusion.

The hourly charts are certainly at the high end, in terms of the MACD (blue bar histogram) cycle, but its election time, and almost anything could happen at the Wednesday open.

As has been the case since the QE spike highs of mid September...bears have to break the key cycle low of sp'1397.

more later