Well, the bulls finally have something to grin about for a change:
If you look back to the portion of time leading up then, and then following, the G20 “truce”, you can see that this is simply another in a series of “higher lows” that have, on a broader timescale, been part of a larger downtrend.
It’s tempting to sell into this strength, and depending on how the day goes, I might just do that – – but what’s a bit scary is that there’s still a very long way to go until a true exhaustion point, if you look at the bigger picture.
I suspect the ol’ portfolio is going to have a few stop-loss orders at the opening bell.
