Markets on a Helium high
Morning Steve, it seems the Markets start to pullback and there is some fluff news to negate whatever prior negative news has come out. I am looking at the last overnight spike as another false Euro rally based on some hot air from China. We have seen in the past though that all the Markets need is some kind of ability to float over the negative news until something positive finally does come out. I am not sure how long this 'float' can last at these levels though. It is a bit like an old Twilight Zone episode, doom is predicted and just as soon as a little panic might be starting the 'News' says Nevermind it was a misquote 'All is Good' and everyone starts to party in the streets right before the supernova. My anticipation is a baby bear turn here and then a Grizzly after any relief rally. Now whether the baby bear has just been pat on the head and not let itself have much movement due to the 'news' might mean we all get a shock when the Grizzly comes through the door?
So I am holding Bearish here still as the Markets elevated at this level seems to be on nothing more than hot air, jmho.
Have a Wonderful Week!
Not much time to watch the Markets, Good Trading!
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