SPI futures did not close 10% down as some Chicken Little were predicting this morning.
SPI futures actually in reality closed 10% higher from yesterday's close. If 10% lower is negative before market open then 10% higher must be really positive for tomorrow.
Westpac turned around 10% in today's trading session from its low to close strongly at its days high. If closing at days lows means very negative then closing at its high must mean very positive for tomorrow.
DOW and S&P futures are up around 4% and this bullishness is likely to carry over into tomorrow morning on ASX. Price of Oil is up 7% and it appears that common sense is starting to prevail.
Assuming most of us have heard the story about "Grapes are sour" - the idiom is used to refer to an attitude in which someone adopts a negative attitude to something because they cannot have it themselves.
If someone doesn't have the courage to buy shares when markets are falling down then obviously they will complain that "Grapes are sour"
WBC Price at posting:
$20.54 Sentiment: Buy Disclosure: Held
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