"Optimism raises equities and rising equities create wealth, thereby induces consumer confidence, so rising confidence increases consumer spending, when increased spending spurs more productions and thereby creates more employments, and vice versa."
Wednesday, July 1, 2009
Golden Cross for Dow Now
Since my last posting on the ugly Dow chart a couple of days ago, the fate has been reversed on the next day with a white bullish engulfing candle. Now, I see another postive sign of a Golden Cross (50day and 200day MA). MacD has also improved significanlty and hopefully, we see a bullish cut and a positive green histogram the following days. That would confirm the resumption of uptrend.
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