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Hey Hoggy,
To me its all about 1758/9 area holding as resistance.
Above 1760 odds are for a gap fill given the strength of the dipsters.
GFS is yet to trigger.
Plan your trade, trade your plan!
It did too, who’d have thunk it with FTSE falling all day, baffling. Don’t know what to make of Merlin now either. Any thoughts?
Is this the reason why….or this not taken into account yet !!
http://www.marketwatch.com/story/yellen-defends-qe-as-best-way-to-normal-economy-2013-11-13-1691307
WASHINGTON (MarketWatch) – Janet Yellen, President Obama’s pick to be the first
woman to lead the Federal Reserve, on Wednesday defended the central bank’s
unpopular and unconventional asset purchase program, calling it the best way to
get the economy back to normal. “I believe that supporting the recovery today is
the surest path to returning to a more normal approach to monetary policy,” she
said. Yellen’s comments came in her prepared statement to the Senate Banking
Committee. Although the hearing is on Thursday morning, the committee released
the text of her opening remarks early. She said the U.S. economy and financial
system have come a long way since “the dark days of the financial crisis” but
that important work lies ahead. She said that the housing sector “seems to have
turned the corner.”To be honest, I never used to believe in the PPT, but these last days has me wondering !! FOB I think it is in the glossary, lol.
oh well you cant argue with corporate results… cisco trading down 9.9% after hours at the moment.
that should get it up 20% tomorrow lol.. I did some day trades today but am still frustrated with the inability of this thing to stay down… I guess im fighting the fed, a losing battle !
1795 as a minimum on this leg up, then a pull back before a final leg up which should complete a 5 wave pattern from the March 2009 low. Once complete, which could see as high as 1820/30, we go down BIG.
anyone else listening to Yellen…. good lord she’s happy to roll out the QE bazooka for almost anything it sounds….
Gordon,
We are still in the bear market which started in March 2000 and probably won’t end until late 2015 or 2016, which history shows is within the normal length window for a bear market. The decline may not start in earnest until early 2014 and should last at least 18 months, maybe two years. Then the next bull market starts. As for the coming decline, impossible to say how deep it might go but if it’s only 10% the Fed should be ecstatic. I would expect at least double that.
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