Up to here, the bull has not been revived as in 2010 or 2011.
Looking at other intermediate term bear market rallies, there are two possibilities from here:
1. a resumption of the uptrend after a little consolidation, similar to August 2007.
2. some range trading and maybe a retest of the 1250 lows, similar to February-March 2008
It can only be a guess which scenario would play out. There is compelling evidence for both of them. I will only point out that, in the past, scenario number 1 has mostly been the rule, while scenario number 2 has been the exception.
1 comment:
Adi, thanks for the update. I think the most evil plan is resume the uptrend star next week and get big dump on coming NFP. I think market may still go up and hoping another round QE by the end of July.
Keep the great work!
Tony
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