Istanbul, update

Istanbul july 25 2016

It took, give or take, a week to complete this triangle. If correct then we should be getting a thrust up any moment now. This should take the index up about 30000 points which would conveniently coincide with the big number 100000.

The narrative, of course, is that the very guys that started this coup are now in jail, perhaps for life, which is short in a Turkish jail, and the good guys are again running the country as a model democracy. Soon the added “must-have” ingredient, that is an overdose of CB intervention, will propel this index forward and upward.

A buy here – in local currency terms, that is Liras -  with a stop at 67500 and a sale at 100000. After the rise it should drop back at least to 60000.