great depression fall looms..., page-67

Gapped down spinning top Farsight. Bears are having their third go at the 1490 level. Obviously the huge liquidity that is still available jumps in when it gets to this bargain hunting point and shorts close as well. To get it to close below this they are going to either put a hell of a frightener into the bulls to get them to give up their long positions, or shorts are going to have to add to their positions to push it below the support level. Shorts looking to get a clear close below the intraday 1487, which would creat further losses the next night.

Hence my cynicism about the timing of the release of the story to the market, when it is vulnerable. It one thing for a report to be written, the timing of the release to the general public makes me think it is a push by hedge funds to get some value out of their short positions.

Its still a bull market, so shorts are just as nervous as longs.

And remember, bond yields are rising in expectation of future inflation fears. This normally goes with rampant consumer sentiment and a bullish equity market. The normalisation of the bond yields aren't forecasting doom, they are a symptom that the bull market is finally gathering pace and that the six year undervaluation of equities is coming to an end, that's why it coincides with the SPX making a new high.