Big Daddy - I feel quite embarrased that you used that quote from yesterday as I was being very naughty - but the crazy thing is, it seems to have worked. The enthusiasm yesterday was quite palpable.
What an exciting night in New York. On my charts (remember, still beautifully hand drawn) the normal daily hasn't broken downside out of that unbelieveable upslanting wedge. However, the daily close is just nudging the line whereas the seven day week chart HAS ACTUALLY BROKEN THE UPTREND. One swallow doesn't make a spring or whatever the saying is, but I think the correction is probably upon us. As mentioned previously, my first target is around the 1305 level. Maybe 1275 but I doubt it at the moment. But as also mentioned previously, because the correction in December was fairly straight forward, this one is likely to be very tricky and confusing - so get ready for more difficult trading times.
What can I say about gold.....the Australian market won't like that.
paddington bears - sentimental thursday, page-10
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