My thoughts yesterday were to 'wait and see' what the next week or two held for the markets. I am a believer in the odds that state how the week following labour day points to the direction of the remainder of the year.

Yesterday all indicators pointed south.

But today a rather stunning show of resilience in my opinion, I may have to see what Obama's speech brings to the table, but my charts are forming an inverse head and shoulders...which is bullish.

I am now topped up on the ROF plays, but anyone on the sidelines should consider this level to take full advantage of the imminent upside. Markets in general could be a short term upside play but I believe the ROF will prove to be a long prosperous gain for anyone in at this level.

JMO of course but I see the stars...

Good luck all

GS40