Yesterday saw a good rally on weak volume but good breadth.No technical damage done to the bear case yet,although this would change if we continued to rally.I am still watching the nested 21,34 day fib counts,thinking this may be another high.That day is Monday but could come in a day either side.
The main risk to an immediately bearish view is that we rally further to form a right shoulder but I am not convinced we will get one.The oil,copper,mining ,European and China charts are all signalling a worsening economic environment,still with no sign of a pickup in US employment either.
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