As I sit down to watch the Bears and Packers, I filter through the weekend news and charts on my hacked and fully Android enabled Barnes & Nobel Nook saving the goodies and tossing the trash. $250 capacitive touch, yes sir.
One thing is clear – we still have some work to do in the markets before this is any more than a momentary test of support. Channels and trends are still intact on the longer term charts, the the bears are howling on the stream about a 10% correction coming. But that hasn't meant much, and nothing has changed, Fed POMO is in full effect, Euro zone is saddled with debt, the US is saddled with debt, and China is buying.
More after the game.
Here are some charts if you aren't watching the game.
Bubble, Bubble, Chop, Chop
No new monday incoming. Prepare to consolidate.
|Weekly Economic Calendar|