Normal
This week I was moving into banking stocks and BHP, expectation that any blow off bottom would swing upwards and move into a 6 month consolidation phase before looking for any selling in the 3rd Quarter of the Year to move into lower lows for 2008…At this stage I think markets will move in a sideways pattern and volatility will remain until things settle, and even push upwards in the next Quarter. Then I favour further weakness in the 2nd half of the year …but I’ll come back to that at a later day ..... (Wednesday SPI Report 23rd Jan 8:30am)US Fed cut and this should stabilise global markets, and hopefully begin a gradual rise back towards the Yearly 50% levels over the coming weeks……For any UP Trend reversal to take place, the first stage is the move above the 5-day 50% level,The first baby step in any reversal is the 5-day 50% level (5435)Any further moves upwards will be back towards the 3-day highs and previous 5-day 50% level @ 5715...that will happen if US markets continue upwards on Wednesday.... (Wednesday SPI Report 23rd Jan 8:30am)Expectation that price will move to 5715 today a blow-off top @ 5771 (today’s morning report 8:30am)Full report out on Global Index on the Weekend…..
This week I was moving into banking stocks and BHP, expectation that any blow off bottom would swing upwards and move into a 6 month consolidation phase before looking for any selling in the 3rd Quarter of the Year to move into lower lows for 2008…
At this stage I think markets will move in a sideways pattern and volatility will remain until things settle, and even push upwards in the next Quarter. Then I favour further weakness in the 2nd half of the year …but I’ll come back to that at a later day .....
(Wednesday SPI Report 23rd Jan 8:30am)
US Fed cut and this should stabilise global markets, and hopefully begin a gradual rise back towards the Yearly 50% levels over the coming weeks……
For any UP Trend reversal to take place, the first stage is the move above the 5-day 50% level,
The first baby step in any reversal is the 5-day 50% level (5435)
Any further moves upwards will be back towards the 3-day highs and previous 5-day 50% level @ 5715...that will happen if US markets continue upwards on Wednesday....
Expectation that price will move to 5715 today
a blow-off top @ 5771 (today’s morning report 8:30am)
Full report out on Global Index on the Weekend…..
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