Markets still cant break above that all important 1450 level in the sp. As close as we are to the highs of feb, a lot of stocks do not act well. GS is still 13 dollars below its peak. According to sentiment trader the Nasdaq 100 is overbought, so its probably worth faind strength.
Apple gapped down last night and I could covered a short and should have. Its above the overnight low, however I suspect its going to test those lows later today.
Bonds continue to tread water. Reading Brad Sesters Weblog at ww.rgemonitor.com I have come to realize that CB's dominate the currency and bond markets. I dont think the world has ever seen as much official participation. How long the official ballooning of fx dollar reserves is anyones guess. I do think in the long run its a dangerous game and China has no idea what its doing and flat out doesnt care.
AD line is split
Gold is strong.
No comments:
Post a Comment