Much ado about nothing

The trends continue. S&P has broken through the resistance around 956 levels to move to 976. I believe this move should take it past 1000. The CRY Index continues its uptrend and the DXY Index its downtrend. Ideally this note should end here. There is nothing more to add. But then we do not live in an ideal world do we?.

So we can talk about the fact that given the rally in international markets, Nifty should break through towards 4700-4800 at least. I can revive my nebulous reverse head and shoulder pattern whose neckline will come at around 4800 and whose right shoulder we are about to complete. Yes one interesting thing I looked at was the CDS yields internationally. They have been coming down across markets. Which is to be expected I guess given the rally across asset classes. I am wondering whether there is any possibility that the CDS markets could be a lead indicator of a trend reversal. I am not sure but will keep checking them.

I have now managed to write so much without saying anything of any significance. That takes some skill doesn't it?. If you agree please DO NOT reply to this message. If you do not agree please take the trouble of sending me a reply with complete details of what displeased you about this note!!!. I assure you that I will NOT read the details of your note just open it to make you feel good that I gave my valuable time reading your reply!!!. Hey just kidding.

Looks like one more potential miracle is not going to happen. Armstrong is lying in third place and is unlikely to be able to make a serious bid for the Tour de France title. But then if miracles happened regularly they wouldn't be miracles would they?