Last week was indeed an interesting week.
The market as you can see form the above chart has started to move back the top of the trading range. But that is not what makes it interesting.
One of the big names in the world of research announced to the world last weekend that it was now the start of the new Bull market.
Of course all of the mainstream stiffs were quick to de-nonce and point out that this guy was always Bullish.
Time will tell who is right... it is safe running with the pack but you will never win the race.
For me the stage is set for the market to start to build. We are now seeing the government cut jobs; this is a clear indicator that governments now understand that stainable growth cannot be achieved through increase borrowing. They are making the tough decisions.
For the average Joe on the street the next 5 years will not be pleasant, but for the markets it will.
Making money is not just about increase in revenue, it is also about cutting costs. Australian companies have been doing this for the last 3 years.
These are good indicators that the bottom of the market is in. You will hardly notice the market move up, one day it will just be over 5000 points and holding.
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