Elliott Wave Live: ES_F: Media Pump, COT Commercial Dump

Thursday, December 30, 2010

ES_F: Media Pump, COT Commercial Dump

Analyst forecasts are running wild along with upward revisions for GDP growth, excessive bullish sentiment, unchecked fiscal policy and easy money monetary expansion. I love all the euphoria as of late. While everyone is about to ring in the New Year, COT data shows that Commercials have been selling against small and large spec. Apparently the herd is boarding the "Love Market" .... the analog for the 1977 TV show called "The Love Boat" that painfully came to an end in 1986. Painfully, so too will this rally.

To learn more about the market's direction, read my most recent daily perspective on the ES_F and Gold markets at: http://elliottwavelive.blogspot.com/2010/12/market-pulse_29.html

Best of Trading

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Thursday, December 30, 2010

ES_F: Media Pump, COT Commercial Dump

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