A clear sign of a very bullish market is still intact in US. That is despite a less than expected figure in the non farm payroll. The actual result of 162k is very much less than 184k. On Friday, after the release of non farm, DOW started 70 points down but ended up 30 points at the close.
This shows bullishness in the market. One SECRET I often used to gauge the confidence of the market is by reading the price action after important economical reports . With such a disappointment, the market still rallied to close at a high. Nothing is more bullish than the US market now!
It seems like August might not be a bad month afterall. Market sentiment is high. This is shown in the US stocks too. Many of the companies that miss their earnings, came back in prices a few days later.
At this present moment, the market is so forgiving to poor economic reports and companies results. I can't see why this bullish run will stop.
That means good for the Asian market too.No panic seen yet.
Regards
Daniel
www.danielloh.com
