We hope so ... and really believe in that. Many factors prove us now the market after many bearish and bullish traps in the last couple of weeks finally turned into bullish mood. The market bullish trend is still intact and was not violated at all, the last weeks choppy market was only a widely ranging market pattern right before the fast and eruptive breakout. The small investors sentiment is more bearish and pretty sceptical enough to be the market bullish, they are mostly desperate and the bullish atitute is in yearly low under 30%. As we predicted in our yesterday’s blog the SP500 next resistance is at 1.873 and we are expecting the index is going to hit within 1-2 days that level.
Yesterday performances are impressive all US indices over 1% gain:
- Dow 16,425 +162 +1.00%
- Nasdaq 4,086 +52 +1.29%
- S&P 500 1,862 +19 +1.03%
All major worldwide indices including US, Europe and Asia are performing well and show strength on the long side with no doubt. DJIA gained three digit numbers yesterday and SP500 after the three days rally is again in positive territory for 2014 again. After the last week massacre they came back from the grave. Nasdaq made 10% within three weeks.
The BFM Assets Team.
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