indices held support

  1. 419 Posts.
    Nikkei, the most deflated market on the planet held its support levels yesterday, whilst the Hang Seng did well to end in the green. Couple this with the fact that oil prices may have eased its bull run in the short-term and gold was dumped as a result, as it seems POG is taking a lead from the oil price as the US dollar index is finding resistance at 100 points and POG ignored that fact.

    Major indices remain under technical selling pressure with war and terror uncertainty, it seems this horror will not be resolved in the short term, and markets despise Bush as capital markets are liberal beings.
    Housing sales in the US fell a whopping 15% in January and excuses are abundant in the US and the blame is laid on the whether(typical), jobless claims rose to record levels for the third week of February at ~400k. Technical bounce may be on the cards but the economic composition behind the scenes is deteriorating at an alarming rate. Conclusion, by all means take part in the rally but I wouldn't chase anything. bwtfdik all imho.
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