Summary for Week Ending 14th October 2006
11900 on the DOW. That's the news for the week.(Apart from all the other bloodshed etc that is happening around the globe..
Last week...
As with last week, the market made it to new highs again, but only after taking a rest. Wednesday was the big day for all markets with the DOW taking the headlines however we are also seeing one of the strongest rallies in the S&P that we've seen for some time. This is of course on top of my belief that the market would track sideways which as hindsight tells us all was completely incorrect. With the market in this mood, as I have said last week, there is no point standing in front of a moving train. This thing wants to go up, and nothing will stop it, only an exhaustion in the supply of cash needed to feed the rally. Once this dries up, then it will cease, and we wont know that point until it happens.
Next Week...
Until we get a signal, the direction is north, with bells on it. There is nothing more to say on this.
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