This morning I said:
"Market got a decent dose of shorts to squeeze this morning, let's see what bulls can do with it."
We had 1154 as a first level of concern and market did not take it
So far, so good, eh?
I was told that some Fed had said they'd been thinking about another round of easing themselves. I found this courtesy of Matketwatch
This is the link
I can lift my top level to 1159.
I will compute other levels later this evening.
I must remember that now even perma-bears and deflationists are writing (complaining) about Fed-easing and currency wars and gold-is-money and all sorts of stuff of that ilk.
I must remember that, so far, Fed-Easing has been nowhere near QE1 and God only knows what sort of easing market is pricing in.
I shall keep an eye on the universally hated Bucky.
I shall ignore all sorts of noise from all sorts of market characters as I am sure they are as clueless about the next minute as I am.
And I shall observe my levels and let the market do its job.
This is an OpEx week -- so far, some Yo-Yo's -- I expect all sorts of price gymnastics.
Have a Nice Afternoon!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago