I thought there may be some room for a downside correction, but take a look at this chart and how players are fighting for the 15 min SMA´s...Unbelievable, but true...
I just read a note referencing Wednesday's Topix 100 (?) stating P/B was below 1.0, and half their average over the last 15 yrs. How cheap is too cheap? Unfortunately I think US is inexorably headed into the a liquidity trap ala Japan. What does that mean for the S&P? Not pretty ...
any idea what the news was that prompted the spike? neither my DJ News nor reuters is giving me any clue. along those lines, they prove to be next to worthless when trading asian markets- any suggestions (short of bloomberg- too rich for my blood) for an asian news service? for instance, the entire HK market knew the land sale went poorly yesterday, while i had no clue because my news services suck. they did let me know, about an hour later. THAT doesn't qualify as 'news' in my book.