Last week I posted this chart.
The basic thrust of my post was that talk comes and goes, the way you or anyone else feels about the market waxes and wanes but market are great at telling you that something is happening. That is if anyone takes the time to shut up and listen because your opinion means nothing. I know this statement is generally a dent to those of you who are a wee bit precious but it is simply the truth. In the face of price nothing you say, do or think has any influence on the market at all.
As a follow up consider the updated chart below.
Once again the market is telling you something.
Been some different messages from different markets for me in the last week or so.
Asian markets have seemed to have direction but lacked confidence just recently, eg the Nikkei.
On the other hand western markets have seemed to be developing a real sense of direction since June this year.
Been trying not to read into it but simply take what is there.
Tye