Friday, May 21, 2010


APPROVED EUROPEAN BAILOUT . More importantly European markets are trading down AFTER the positive German vote! S and P futures are now trading as if the market will open sharply lower BELOW recent fat finger reaction lows. (that is where once made I would anticipate a bounce at gross oversold is unlikely but could lead to panic)

NIKKEI japanese exchange has lost 6.5% over 5 trading days and has now fallen back below 10,000. Some A brain was touting them a buy at the 11,000 plus near term high.....JA

Recent EURO decline showed barely 2% bulls, a low should be in Euro, at Euro top 98% Bullish opinion.....hmmmm think there is a pattern here?

Recent Gold top showed 98% Bulls.

Bond yields on 10 yr hit bottom channel on inverse head and shoulders I was snooping....yields should rise from here for a time....breaking lower neckline would have cave yields....indicating extreme fear.

NOT GOOD , you'll remember March 2009 was the bottom of decline from far.

"The Conference Board's Leading Indicators Index turned negative for the first time since March 2009 as the index declined 0.1% in April. The consensus estimate called for an increase of 0.2%. "

Freaky Friday? market "should" calm down a bit here....also opex friday

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