Talk about intervention to the extremes..right out of the gate it was a buy and now above 619 the intermediate trend is up. However, every time you have buying sentiment to the peak, a retrace will follow, more than likely by eod tomorrow. The next set of numbers are 642, 629 and 622. Recognise the range change? yes a WR7 and a turtlesoupsell....in addition, B2 Bomber Ben is talking tomorrow... but as long as 622 holds we are up trend....(by the way, ISM data is below 50, we are in recession, the market seems to take the slight improvement from last month as rallying fuel on top of the billions of write off from UBS)..the market is ignoring bad news now...
2c
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