Whatever you want to call this latest Bernanke inspired rally, one thing is clear, the Fed is entirely in control..of just about everything. A mere Q & A session with the press is enough to swing the global markets by huge multi-trillion amounts. Incredible.
Daily charts remain extremely strong, hourly charts are strong, but the smaller 15min cycle is now due a small wave lower. At best, bears will be lucky to see 1660 this afternoon.
*as things are, doesn't seem any point holding short, after the next 15min cycle is done by 2/3pm.
The laughable thing is that there isn't any significant QE until next Friday, and yet, bulls don't need it, so long as the Bernanke says the right thing.
11.20am.. exiting index-short position. Am utterly tired of this. No point holding short, we ain't going back into the 1650s any time soon, are we?
mid 1700s look viable within a few weeks.
Anyone doubt sp'2000 by spring 2014? I mean, seriously, how can anyone doubt that? Thats only 20% or so higher, easily viable.