sp'daily3 - fib levels
Summary
Very little to add. It would seem there is a fair chance that 2041 was a short term top. If so.. there would seem a high chance of at least a 3% retrace.. down to the 1980/70s... if not (briefly) the 1950s.
On no basis though, can I see a break under the very important sp'1900 threshold.
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Closing update from Riley.. with the Pitbull
*a margin requirement of $27 million? Urghhhh
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Looking ahead
Thursday will see the usual weekly jobs data, along with the Nat' gas report. There are a number of Fed officials speaking, notably, the Yellen, at some Fed-ECB conference.
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Bankster bashing
There continue to be sporadic fines for the UK banks.. it would seem (not that I'm surprised) they have been rigging just about everything, along with regularly screwing over their own clients. In many ways, you got to give them credit for being so bold, lol
See the following by UK C4 reporter... Mason
The reputation of all those involved in high level banking was of course seriously tarnished with the bail outs from the last crisis. Considering the ongoing revelations, I don't see many having any respect for those involved in financial services.
When the next financial crisis hits (can't be more than 2-3 years away), there won't likely be any bail outs, but instead... an even worse scenario of bail ins. So long as Federal 'insurance' is legally enforced.. the average investor/saver has not a hope of escaping the bill to cover others 'failed financial bets'. I have no hope it will change any time soon.
Goodnight from London