The Primary trend on the LSE turned upwards on the 31st of July, and as I write on the 4th August 2013, the trends going into the open on Monday are UP/UP. This means that both the Primary wave and the longer term trend are positive for the bulls. The shorter term trend is very positive with the Colour Guard showing lots of green. This indicates that the speed and acceleration of the price, and the speed of the BUY/SELL ratio are gaining.
I was pretty sure that Barratt’s would rise when the LSE Primary wave turned up and I am happy to report that this was the case.
On the Dow my Elliott wave count shows that this market is now moving into a wave 5 of the waveform that started in the last weeks of June 2013. The target from this move on the Dow is 16000, and I would expect the 30 share index to get there in the next few weeks. I am quite sure that the LSE will follow.
As I have reported before, the Monthly chart on the Dow is showing resistance at the 16100 level from a pattern that started in 2000. A decision will be made by the stock markets of the world when we get to that level.
I am sitting in my shares at present and enjoying the move.
The internet is full of doom and gloom merchants. Their bearish views have been punished since June past, and bankrupcy would have been the result of following their views since 2009. Vectorvest measures the direction of the LSE by its momentum and breadth. These metrics are then confirmed by a move of two weeks in the same direction. The technique has never missed a move, and the technique says at the moment that the trend is UP. The trick is to get yourself and your views out of the way and listen to the only true master, which is the market itself.