The G20 decision to keep up stimulus put a rocket under prices today sending the major indices up over +2%. The air of confidence has again been bolstered after Buffett’s foray into the railroads purchase last week. Our trend indicators are slowly turning higher again and we can’t ignore the price action regardless of what we think otherwise. The Transports kept pace today. I guess my only contention between today and the June/July lows was that the broader indices and Transports have made a lower low this time around whereas they didn’t back then. We’ll see how price follows through but I’m again on alert for new long positions.
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Tue, Nov 10, 2009
US Commentary