Even Less Ado About Nothing
Even Less Ado About Nothing
11:24am EDT: As I expected last night – we are still inside that dreaded new triangle formation:
Mind you – it might not be counted as such – but for now we continue to coil up. Once there is a release in one direction or the other we will finally have confirmation of the medium term trend. In the meantime it’s swingtraderbalooza – bring your own party gown.
11:51am EDT: Another way of looking at the past six weeks of brain aneurysm inducing tape:
We basically jumped from one sideways range into another one – 880/930 gave way to 925/950.
BTW – my favorite news of the day:
JPMorgan, Morgan Stanley Among 10 Banks to Repay TARP Funds, Cut Oversight
Translation: So Long, And Thanks For All The Fish!
