Saturday, November 22, 2014

China / Draghi Fried Turkey Holiday

The Market Trend Model (http://bitly.com/M_Trend_Model) continues to show a positive bias as both China & the European Central Bank turkey up to the easy money trough.  Friday morning saw the indices gap up big when China cut its benchmark interest rate and Mario Draghi announced European buying of asset-backed securities.

The giant gap up was sold into for most of the day, as is typical with such frothy market opens.  At the moment the market remains in an uptrend...at least until the Central Bank turkey fry blows up in our collective faces.