xjo - santa might not be coming ...

  1. 5,816 Posts.
    Hmmm... historically, even in dark times, the Christmas run-up has been something traders could at least depend on to provide a little Christmas cheer ...

    Sometimes early, sometimes late ... sometimes extended into the New Year until those who had 'maxed' their credit cards had to cough up...

    Even though the US economy is in bad shape compared to us here ... they have had a solid 8 week rally which is expected to continue until Santa arrives ...

    Alas, even though our fundamentals are sound (except for the drought...) it seems the 'black dog' has bitten so hard here this year that Santa may not come at all ... (sniff)

    The XJO seems range bound (Fib 23.6%) and chart looks like this ...


    Cheers ...


    This is only my view ... read the red stuff.
 
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