eu bailout fund - approved

eu bailout fund has been approved overnight and the market shot up a bit higher! I do not have to tell you what a joke this eu bailout fund really is right ?

eu bailout fund approved....yes! But the bigger news comes with the FED announcement on THURSDAY! Many traders and analysts have been waiting, and the expectation is that they will announce QE3 or some sort of quantitative easing.

Well... your guess is as good as mine as to what happens. I could go on all night about the fed, and their evil schemes in regards to what is happening in the economy. If you think things are getting better out there in the economy, I mean in the real world you need to go to your doctor for a check up.

Anyway, with the eu bailout fund out of the way, on to the charts for THURSDAY!.

As you can see, the market has been flattish for the last few days. It almost seems to be creating a bullish flag. But overall we are still in the upwards channel.

What I do what to say here is that the markets and sentiment are still firm, however the last few days we have seen selling on the close, and some of it has been fairly big. 

Firm action, but it is interesting that we HAVE NOT taken out the old 2008 highs, the market really is having a hard time trying to do that lately.

We have the Fed decision tomorrow at 11:30am and also jobless claims, so it might be a day to wear your helmet with the chin strap! :-)

I'll be back tomorrow and we shall see how the market reacts to the big FED NEWS!

Happy trading. :-)

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