Well, after all the hype and build up to todays job data,
we're.................. still stuck in the same range we've
been in since the dawn of time. (Well, it seems like that long.)
Volume has been low in the US and the Eurozone for weeks now.
Nobody seems to be breaking their necks to buy anything at these
'Bargain Basement' levels, as the Broker sponsored TV pundits
are fond of telling us.
S@P, NDX, UKX, are all bumping up agaainst resistance again.
Don't know what the catalyst will be to break out of the ranges
one way or the other.
Fed's already said it will be raising rates, starting this month,
at a leisurely pace.
OPEC will raise oil output, speculators on margined borrowed money
will need to close if the price drops. And it always has before
when spiking to these levels.
Al-Qaeda will no doubt be planning it's next atrocity. Probably
timed to cause as much damage to the 'Infidel' US as possible.
US is growing nicely, but how much is priced in already?
If any of you can sort this little lot out and tell us where
everthing is going, then give me a bell first so I can take
a position before the herd.;-)
If there's no takers, I'll just do what I always do and follow
the charts between support and resistance. (A bigger range would
be nice, though, if someone could arrange it) :-)
A quiet week for me after playing catch up after a weeks holiday.
Just 4 trades. 3 closed for profit and one still in profit
but left open for the weekend to keep Fundamentalist company. ;-)
Melnibone.