Another technical breakdown just happened today as CORE DURABLE GOODS surprised everyone.
Stocks are once again trading almost 3% higher across the board, except financials which are once again left out.
Despite the poor housing market data, investors continued to pour money into stocks.
The correlation with gold has disappeared as GOLD and STOCKs roared side by side.
Should we still be waiting for a correction to buy or should we buy now?
Hard to decide. Most data shows that we are somewhat in a mini recession mode.
Thinking hard upon US STEEL CEO words, the order books for H2 ‘10 is quite bad.
I think it might be a safer alternative to wait for the market correction despite the technical breakdown. We could wait till today’s session is over before making a decision.
Now the market seemed to be way overbought. With USD at really low level, we should be fearing a USD rally soon.
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