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Sovereign debt problems have not gone away but the Euro and commodity currencies
are rallying as ECB guarantees and Chinese data are quietening concerns.
ie We were on the next leg down but we are being held up now by the above. All
this is causing the Dollar to weaken, gold to drop, the market to bounce. So if
this is the latest game then that is the one that has to be traded.
At some stage reality will come back again but for the moment we've got a bounce
going on. Its a question of trade what you see and not what you think.
From an individuals point of view I hope everything can be done to hold the markets
up, if they succeed well done to them.
Here is the latest chart showing how we hit the Fib area and sold off put in
a lower high sold off in the US session looked to go lower until the currencies
held us up and now we have a bounce going on.
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