The week began with a rather tedious day of minor chop for the main market - despite some notable weakness in the R2K/momo stocks. The best the bears have managed across the last few weeks is an embarrassing -1.6% decline.
So.... a second blue candle.
For those doomer bears out there who think sp'2011 is a key top... the second blue candle is indeed something to get marginally curious about.
All things considered though, price structure on the daily charts is arguably bullish, and a move from 2011 to 1970 would still only qualify as 'embarrassingly lame'.
Hunter with Armstrong
Interesting discussion.. well worth giving some time to.
Not much is due tomorrow, just the PPI. Market will sway its attention to the Fed, as it begins its meeting, but then... we know what the announcement will be.
*there is sig' QE of $2-2.5bn....bears beware!
Special tech note...
This might apply to just a few of you, but I wanted to note it anyway, since its been driving me insane since last Friday...
Mozilla Thunderbird - email client
Problem - upon upgrade to new version, new emails no longer received/sent
1. DELETE 'mozilla thunderbird' folder in C: program files (might be in x86 folder)
2. Download a FULL copy of Thunderbird... do not use OLD version.
4. ALL old emails AND folders should re-appear.. although you might need to re-enter passwords for individual accounts.
Personally, I continue to have an intense love and hate relationship with technology. It sure offers the most amazing opportunities, but when it doesn't work, and there are a near infinite reasons 'why' it might have stopped working, well, that is when I almost long for the days pre-internet.
Goodnight from London