When markets move to extended areas where they are not quite sure of whether they are welcome, they do one of two things, either rebounding ferociously back fearing an ambush (or receiving one), or the forward party moves back over covered ground, doing little forays, with snipers out in front, tracking back and forth to gauge the reception.

It feels the U.S equities are doing the later at the moment, pushing, gauging the reception, and withdrawing. It could all turn nasty again in a heart beat, or they could dig in with battle lines drawn and trenches dug, and hold their position in embattled territory for an extended period, without suffering any real damage. It appears that due to the nature of this foray, without any undue volatility the chance for a massive push back to the command centre at 1200 may be something quite remote. I wish the troops good luck.


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