friday, page-38

XJO is looking strong. A pull back to 4420 wouldn't surprise me but it's clearly telling us it wants to go higher from here.

A couple of months ago when "the world was coming to an end", little Prechter's were running around calling for a colossal crash.

Even my friends 82 year old mother in law was calling for a market collapse.

Although all logic suggested lower prices, the market loves to fool the masses.

Now it's trying to fool us that everything is OK. And once that has been achieved (will it be late August?), we'll get hammered again.

I'm getting old, time for another cup of earl grey.