Tuesday down 9 of the last 11.
In the bigger picture today saw U.S Indices break out of their trading range to new highs. The breakout was on pitiful volume and didn’t have much momentum behind it but based on closing price alone there’s technical support for a continuation of the move towards or beyond 18,400 DOW.
I still feel we’re owed a leg down to re-test 7th May lows, but for now the market is saying otherwise.
Lets see what European markets do – if they continue to sell off then the U.S rally is almost certainly on borrowed time based on past experience where FTSE often reverses days or Weeks before U.S markets top-out.
