Bullish mania is running rampant in Pundit-land – at least it was until last week. Human nature, being unfixed probably in millennia, compels most to find easy-to-digest rationalisations for what has just happened. And since June, what happened was the strong share rally off the
Tag: Credit Crunch
US Crude oil is in the process of correcting the huge surge to my main target to the $128 high a month ago. Latest quote is $96 – a decline of $32 (25%). Of course, the price could rally back from around here – or it could correct further as some traders expect a price-induced increase in supplies to the spot market.
Long time readers know that I place great store in measures of sentiment both in each specific market and in the wider economy. That is simply because it is the waves of sentiment that drive the financial markets according to the Elliott Wave model. While
I’m sure, like me, you have noticed an avalanche of references to Bitcoin and other cryptocurrencies in the MSM in recent days. Yes, the coverage has been pretty steady as Bitcoin moved above the $4,000 level in mid-August. But since then, the manic excitement has