Pack your bags Friday

Well, happy trails to Jako who is off for a couple of weeks holidays (presumably spending some of his well-earned trading profits?) - better leave some space in the suitcase for Mrs Jako's holiday shopping spree...



As to the markets I am sure they will rattle on while Jako is away and he'll come back and tune in and it will be just like turning on the TV and seeing the latest episode of days of our lives or the bold and the beautiful and that feeling of de ja vu you get immediately recognising the plotline...

So today's episode of the XJO saw the market putting in a little test of resolve of the previous two-day reversal pattern showing some buying support to push it back up to just below the day's open after the low of the day and in the upper half of yesterdays wide-spread bar (a bullish signal) on about average volume. With Europe up tonight and US futures in the green we look set to test that resistance level at 5286 and possibly into the 5300's tomorrow.



And before closing off here's one for all of us who believe we know better than Mr Market when it comes to predicting his direction, because he can be very good at denting our ego when we get too confident:



Cheers, Sharks.

PS: Mfx I think I saw you say you'll do a cranker if there isnt one by 10.30pm - I'll do my best to do as many as I can in the next couple of weeks but if its not up by 10.30, then perhaps you could kindly step in.