In my first post for the new web site I thought I would give a brief over view of the market as it stands.
After the Japanese QE on the back off a dire GDP print seeing them fall into recession and the Chinese adding more QE with more to come we are told the pressure is now on Mr Draghi to follow suit – will he ? all eyes will be on Dec 4th the next ECB meet.
Todays bullish IFO report gave the DAX another shot in the arm making it 8 straight up days and stands 250pts off record highs and no longer looking jealous at its American cousins.
So what will take these markets lower and awake these bears that have been in a long hibernation ? Short term I see nothing we now approach the US Thanks Giving holiday traditionally the strongest time of the year for the market and then xmas so seasonal factors bolster a bullish case – coupled that with central bankers around the globe throwing money as fast as they can at already elevated stock markets it all points to short term gain – but for what – long term pain ??
In closing I’d like to add this quote: