S&P500
and Dow rallied yesterday again, better if we say has rallied in the last six
days in row. This song is more actual than ever:
- by Mr.
Excitement, Jackie Wilson
The
sentiment is extremely bullish, in Asia, US and Europe, cross the world.
Yesterdaydata: Dow +1.11%, S&P500 +1.35%, Nasdaq 1.63%. All investors
cooled down and set into RISK ON mood, after Bernanke said on Wendesday the
FED remainaccommodative. Basically Bernanke did not say anything new,
just opened his mouth, it tells me the market not concerned so much anymore
about the QE. The market is pricing in now the tapering of QE program.
On Wendesday was
released of minutes from the central bank’s last meeting. Where 19
members of the Federal Open Market Committee looking to cut the Fed’s $85
billion in monthly bond purchase program by the end of the year. So this
information is broadly known, so if the fact will come out in November or
December nobody will be surprised. That is a smart tactics
by FED.
Technically
as I said last week we had a break out on S&P500 at 1610, and after came up
to the first resistance 1650 and yesterday made a new breakout at 1670. Now is
opened the air. Whre is the end of the rally. I don’t have
the faintest idea, what I only know this is a BULL MARKET.
Andhow to trade the bull market. Be really bullish, kind of bullish or
neutral. DON’T SELL because you believe that you are
smarter than the market.
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