Dow joined Nasdaq & S&P 500 by closing well above 200 DMA.....this is extremely bullish for more UP move in Markets......
Nasdaq is ready to make a golden cross( 50DMA above 200 DMA) which is only 5.92 points away...Friday is the day???
Oil bullish move to new high today is great for commodities......
Today was a complete reversal of commodities.....
Since March lows the ONLY consistent skeptic of any data or market moves remains no other than Art Cashin of UBS..who has been calling DAILY for retest of lows or imminent selling based on his unique talent for finding negative in every report/market tape...yesterday he claimed that we had more new 52 weeks lows..as his new & improved thesis???
Can someone please tell Art Cashin that we have rallied 46.2% since March...& he is counting 3 new 52 wk lows????
Market has given a new confirmation today that "indulging in some speculation is OK now"...
AH Futures are green.....
Oil is green...
PS...Canadian $ gained 1 full cent against US$ today...NICE $$$$
Markets will make jobs report a non-event......as there is tremendous momentum in market tape.....
GS made a bold call on Oil going to $85 by the end of this year $90 in next 12 months & $95 by the end of 2010.....this will fuel fire in commodities laden stocks......
BLOG does NOT give buy or sell.
Saleem
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