johnaus's - brink of death - friday, page-27

I've lost count of markets rallied on EU bailouts and selloff following days. But for now, market will just turn blind and worry about Greece again as early as this September. Fun, isn't it.

current XJO pattern looks similar to July 8 rally but still below uptrend line that connects last July low and this March low. Needs to close above 4605 to break the current downtrend line that started in April. Next wk will be a tell.

I don't short but skeptical of current rally. Shanghai action yesterday and today don't confirm as well. Neither does CRB index. Banks shorts are definitely burnt today but look at BHP. it's not even green for heaven's sake.