redbacka's - bald as a billiard ball thursday, page-70

I have 4220 and 4265/70 as next resistance levels. I'd say 4220 won't offer much resistance tomorrow but then again with the recent rise and being a fri, it's a bit of a wait and see. CBA is very close to my s/t top of $56 so maybe the banks will slow up and BHP and RIO will do most of the work to lift the XJO tomorrow. Next week I'm looking for a higher low to give some consolidation and allow the market to move higher. Reporting in US has been mostly BTE so far which will continue to provide support even in the face of poor economic data from governments. it's not unusual to see the markets rise even with poor data coming out. That's Hysteresis. So maybe the markets won't react to negative news until end of reporting season and by then if CPI, employment data comes out supporting the view that things are turning around that could be enough to give ongoing support for another qtr. All in all, I'm still bullish and expect any pullbacks to form higher lows.