Oil was down, positive earnings news...yields up. Profit taking on bonds drives yields up. Profits go into equities, equities will rise.
US consumer remains strong. US housing is weak BUT improving. US earnings remain strong particularly for companies with offshore exposure. China and India remain in high growth phase..good for US exports. US rates will probably not drop and probably not rise. All of which is good for resources which is good for us.
The DOW is already back up 24points to 13508.... SP500...up 0.75.....
PLUS Australian fund managers need strong close in our market by June 30. 6500 is my prediction by that date.
Would not be surprised to see a dip today and then the fund manager protection team lift us back!!!!
Enjoy
ps IF WRONG...SELL EVERYTHING ...PANIC...GO TO CASH....GO TO THE BAHAMAS UNTIL SEPTEMBER....now everyone does have guaranteed stops in place on all their majors don't they???//.....LOL
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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