The bounce in the US markets during the last 45 minutes on the close of the trading week was not 'natural'.
From RR's commentary just posted by Chuck -
"Late Notes -- Despite the 494 point rise in the Dow, the market's internals were poor. There were 2 highs and 1245 new lows. Meanwhile, Lowry's Buying Power Index is breaking to new lows while their Selling Pressure Index is registering new highs -- a lethal combination."
So why did it happen?
Well, from George Ure on Urban Survival writing before the markets opened last night --
I don't accept that the surprising upmove in the last 45 minutes was due to free market forces. On a weekend? With nothing but bad news hitting the market? With America's third larges bank getting absolutely mauled?
I don't have fairies in my garden (and more's the pity, but that's another story).
I see some on the DJIA forum are suggesting "the bottom is in!". They might have some fairies.
It's far from over, and though 'someone' or 'something' is trying to reassure all is well, the beginning of a shift to gold might be suggesting exactly the opposite.
