Asian Business Issues - Rants & Raves, Illusions & Collusions etc.
Well,technically I thought that the market will have a bounce before consolidating for one final push before the US presidental elections.Oversold or not oversold,the markets are like a wounded bufallo.Only gold was the only market which outshined the rest.The greenback gained for the second week due to a lot of fear.But the markets orderly descend,in the face of a lot of fear,especially Greece and Europe,makes me to feel confident that the recent setback is a correction rather than the starting of a bear market.I still maintain my analysis that the markets will make one final push before the fat lady sings.My best guess is that the dow will rally above 13,300-13,600 to form a broader right shoulder on the daily charts.Although a heads and shoulders have already formed on the daily charts on the recent rally around 13,300 and the recent decline,a final push will lure the retail investors into the bulltrap.When the dow goes so will the rest of the world markets.
Been a fan of Lennon for donkey years. Wow, what a take on happiness he had!And oh, did he sing the song "Sell in May and go away" ?
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