My brain keeps saying, "strong
non-inflationary economy, stable interest rates, election year, new economy, yada-yada-yada..." But the
market emotions are becoming the opposite of irrational exuberance...freight trains DO run in both directions,
don't they? And almost all my charts keep showing the same miserable downtrends with support point after
support point giving way to lower lows.
Well said, Mark. I believe that most here would agree with you. We knew this week would be the indicator that would clue us in to the rest of October. But here it is Thursday, and many of us remain clueless. I would hope by this afternoons close, we should have a better idea as to whether there is follow-through, increasing volume, positive breadth, tech leadership, etc. . . or whether we are just entering the spin cycle of the long summer of 'Wash & Rinse'.
Will MU positive earnings get overshadowed by the media coverage of Dell & HLIT warnings? And which button will the manipulators push? The one that opens with a gold key, that says we can move forward? Or the lever which drops the floor out from under us?
"Climbing walls". . . increasingly becoming part of the Trader's job description.
Rande Is |
