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Bulls are in good shape. All indices are still under pressure from some downward trend line, especially $RUT, which still sits under the upper trendline from early July. Friday's rally started from Europe and we all know how long a piece of good news from Europe can last. I used to believe in market conspiracy but less and less now. Market was genuinely happy when Germans hinted that they won't stand in ways of ECB's bond purchases. Good job numbers are just icings on the cake to push it higher. Let's hope this rally can last a bit longer. Still cautiously bullish. Code green. |
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