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Earning season starts

Let’s see how this affects indices. My bet is that it will make them a bit choppy, but push them to upside. The bottom line is that all US indexes closed last week at new all-time highs.

The new historical record in Russel shows how broad and deep the positive sentiment on US markets is.

S and P Daily chart for technical trading of currencies commodities stocks

Technically the S&P500 made last week a breakout at 1670 and stayed steadily above this level, so we might see a couple of days of  consolidation,  and then try to test the 1670 level. But generally, the bulls are ruling the market. And, what we should do in the bull market – BUY IT AND DON’T SELL IT.

My only concern is the macro effect. I know we have seen this pattern continuously in the last four years a couple of times, but it makes sense how big the gap between the reality and market performance is. My question to you:  if everything is great why does Bernanke need to save the US each month?

Basically the US economy is the  second worst performing macro-economy of the year between the majors. This chart shows obviously the fact on macros, (chart by Zerohedge)

Macro Economy Europe US UK the big picture July 15 2013




Blindfoldedmonkey is a daytrader and money manager who has spent more than 10 years in this business. Risking his own money each day in the market and working for some funds as money manager and adviser. With many years of experience, he developed a system, which called - "Fractal Trend & Contratrend". This system is a complex trading solution for the forex markets. He writes often fx analysis, holds forex seminars and webinars, already teached many hundred traders about how to approach the markets in practice.