Morning All Another week of incredible market movements, even im...

Morning All

Another week of incredible market movements, even im suprised at how much it keeps going up.
The US market is now in the 2nd most overbought situation in history, which put into perspective is following the most oversold situation in history.
What the markets are highlighting at present is impulse move casued by majors insto's who know/think the new bull has begun. Impulse moves are the most profitable trading places to be in, and the only trick is determining what stage its at right now. On the slides below i have picked the weekly charts to try and identify where its all at.
Sure i have taken money off the table and favour pull backs here, however i think the next move on daily indicators will be a good one too and im prepared to be patient and selective.

I will probably limit the individual stock charts i do this weekend, due to time and also encourage others to step up as we are starting to see.

Have a great weekend
Regards
Rob
World Markets 1st August 2009