The markets strong downward trend over the last 6 weeks seems to have been broken with an approx. 1.1% rise over last week....... In addition the german and US markets were up strongly after our market close on Friday......
to early to say where the markets are heading from here- might be up, might be sideways, but Monday looks like being a positive day on our markets.....
from the financial news over the weekend the concensus seems to be that Europe and japan will retard growth in the US to some degree..... the cheaper oil in the US and the deflationary pressures in Europe and japan are likely to kerb any inflationary pressures in the US thus delaying an increase in interest rates there..
I'm not sure where it all goes from here except that I am closing out some of the shorts currently held, and have cancelled my good number of short bids.....
I have also noticed that all sectors in the ASX have kicked upward this week........
Does all that mean that I think this correction is over - answer, I don't know, but I'm thinking to begin collecting just a few longs that imo might be o/sold........
