Thursday, 31 January 2013

10am update - lousy open for the bears

Minor opening declines, but with the Chicago PMI coming in much better than expected, with an absolutely non-recessionary 55.6 reading, the market now has an excuse to challenge the recent 1509 high. Bears...are once again in serious trouble, and it ain't even lunch time.




Any of the serious bear money should probably be running for the hills now.

After all, the micro-cycles all look floored, and we're now set to see another 2-4 hours higher.

A very bad opening 30mins for those short.