Here we go again.... - Friday, page-38

Hi Martis

The DJI chart imo has a negative bias to it, and that bias is supported by the fundamentals atm:

1. Yes the triangle is symmetrical, but the positioning right under the long term broadening top line imo is negative.

2. Fundamentally what we are expecting to see is a re-pricing of the market to factor in the beginning of the end of QE - it has to happen (if the US economy is really improving) its just a question of when, and when it does the market should be re-priced accordingly, which is logical.

Instead of something to fear, I actually think that will be a healthy event for the market - the fact the Fed is ready to raise rates says that they have confidence in the state or progress of their economy (which doesn't necessarily reflect on ours, which is subject to different factors).

Cheers, Sharks.