alutacontinua wrote:mnandii wrote:alutacontinua wrote:mnandii wrote:NASDAQ 100 and DOW appear to be topping. The next drop will be epic.
The retest of the 100sma and close above it on Friday last week on YM has bulls recharged add to that the accomodative monetary policy from the FED and QE not ending till later this year we might just be headed for some new highs in coming months. Euro Zone growth issues also has many viewing a possible stimulus package by ECB which as we saw this week was great for equities (Just my 2 cents)
OK. Though I don't trade fundamentals..
The chart is everything.
@mnandii am also a chartist
Been looking at fundis of late though and finding it very interesting as to how a slowdown in growth of china and euro zone has stocks rallying coz everyone is expecting CBs to come in with some QE/stimulus. Now that the housing data has just come in better than expected focus shifts to Yellens speech tomorrow......if she is dovish(as expected) i can bet you there will be a new market high set esp on YM seeing as 17000 has been broken today. (As usual just my 2 cents)
With QE not ending until December and the current low interest rate environment the equities bull run looks set to continue.
I was hoping that the geopolitical tension in Russia/Ukraine and Iraq would see a possible sell off to these over extended levels/prices but the market is now factoring in possible ECB stimulus despite the decreased growth in the Euro Zone and the soon to be felt effects of Russian sanctions. Super Mario kazi kwako....
You dont have to be great to START but you have to start to be GREAT!!!!!!!!