Guten Abend, Lisa.
Got my trin figures for last week from Barron's and this week's from Yahoo. Small differences. I have 1.31, .72, .46, .82 and .74. Either way, 4.05 or 4.11, it still needs to be a reasonably bearish number for tomorrow not to hit a cumulative 4.0.
Seems to me, though, that what Greenspan says may decide things for us. I'll go ahead and speculate that if he hints Asia is going to have a significant negative effect in the second half and next year, people will go back to worrying about earnings and we'll drift until either some notable warnings send us lower or the warnings season passes with no more surprises, in which case we go higher 'til the actual reports start next month.
OTOH, labor markets are still tight and the markets sure haven't moderated their exuberance, so he could still sound hawkish. Problem with that is that this crazy market just might go up if it looks like a rate hike is coming (you know - "the bad news has been discounted").
Until then, I'll just have to take comfort in the lack of volume and the negative breadth. The Transports, BTW, still look to me to be in a downtrend. Renewed concern about economic slowing will send them back to their lows pretty easily, IMO.
BWDIK?
Bob
PS: Monty, gotta hit the return key when using fixed fonts. |
