| From: humble1 | 8/24/2012 1:37:50 AM | | | | | | It doesn't get much more fun than this. Four days down into a Cluster Window, with Price landing right on support, all after a slight punch through the old high. And volume has declined, too. Now if can just get a slingshot out of this over the next several trading days then we will be set up for the run into the 1500's.
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| To: zman69 who wrote (8792) | 8/24/2012 3:21:02 PM | | From: zman69 | | | | FYI,
if you aren't a subscriber you can read the article for free by Googling the title. The key paragraph IMHO is...
"There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery," Mr. Bernanke wrote in a letter dated Aug. 22, a copy of which was obtained by The Wall Street Journal."
This gives us an insight into Bernanke's current thinking as of 2 days ago when he wrote the letter, and it seems based on the quote above that he is currently leaning towards additional accommodation. Of course we will learn more at the Jackson Hole event next week. |
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| From: humble1 | 8/24/2012 7:30:25 PM | | | | | | Dunno if this is the same article but it doesn't require sub. Thanks to Z for posting this development in a timely fashion many hours ago:
online.wsj.com |
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| To: zman69 who wrote (8793) | 8/24/2012 8:21:42 PM | | From: humble1 | | | | Z: it is just amazing how these doomers seem to have come to dominate the sites. no wonder The Sheeple are depressed and pulling out $$$. doom and gloom sells!!! it is so easy to be mega-negative and who wants to come on and rebut these highly energized ghouls???
but these are the times we live in. "negativity bubble" - you named it. hopefully things will change soon. |
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| From: rkchris | 8/24/2012 11:21:37 PM | | | | | | | Thursdays ES 1398.00 low held above its cr1397.40 support. Today saw the ES run stops below 1397.40 & bullishly reverse back up to close @ 1410.25, which is coincident with 1410.00, the 50% retrace of the decline from 1424.75. Previous resistance @ cr1401.14 & cr1407.02 now act as sppt. Short term sentiment is supportive of a rally, having moved from a deeply o/b reading from 8/17 to 8/21, to an o/s condition on 8/23...... |
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| From: humble1 | 8/25/2012 10:44:39 AM | | | | | | Expectations low for anything big/new from Helicopter Ben next Friday. Makes sense - too close to the meeting and he has said plenty already:
cnbc.com |
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