“The bullish action last week in almost ALL asset classes confirmed temporary price stabilization, at minimum,” Alan Knuckman explains from his post in Chicago, “and possibly a march back to recent multimonth highs.
“Good signs across the board include crude oil rising up to over $80 a barrel and almost 15% off of the three-month lows seen just two weeks ago. This rally signals continued strength in the global recovery via demand support that is poised to test January highs at $85.
“Take a look at crude oil and the broad market S&P over the last month:
“Every major asset sell-off attempt to break the uptrend established from the March 2009 extreme market lows has rebounded with new relative highs.”
“Good signs across the board include crude oil rising up to over $80 a barrel and almost 15% off of the three-month lows seen just two weeks ago. This rally signals continued strength in the global recovery via demand support that is poised to test January highs at $85.
“Take a look at crude oil and the broad market S&P over the last month:
“Every major asset sell-off attempt to break the uptrend established from the March 2009 extreme market lows has rebounded with new relative highs.”
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