The market was not volatile. It was only calm in a low volume, however it was trying to claim back which it gave up on Monday. Bullish sentiment prevails the market and it is proved right.
A good news for the markets today is German court approves bailout fund, with conditions http://www.guardian.co.uk/business/2012/sep/12/eurozone-crisis-german-court-bailout-fund
"By rejecting the complaint,
Germany's constitutional court has given the green light for Germany's
president to sign the €700bn European Stability Mechanism into German
law.
That takes away the danger of the bailout fund being blocked.
But there are also some key conditions:
1) The court has rules that German liability to the ESM must not exceed €190bn without asking the Bundestag for approval.
2) Both houses of the German Parliament must be kept informed about how the funds within the ESM are deployed."
There is no reason not to be bullish now, I think however if FOMC's statement release (12.30pm tomorrow) didn't please the markets, we'd see better chances to buy stocks at better prices. Let's see.
The index maintains 4 days in the upper part of the rising channel.
That takes away the danger of the bailout fund being blocked.
But there are also some key conditions:
1) The court has rules that German liability to the ESM must not exceed €190bn without asking the Bundestag for approval.
2) Both houses of the German Parliament must be kept informed about how the funds within the ESM are deployed."
There is no reason not to be bullish now, I think however if FOMC's statement release (12.30pm tomorrow) didn't please the markets, we'd see better chances to buy stocks at better prices. Let's see.
The index maintains 4 days in the upper part of the rising channel.
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