Whoops there goes another Rubber Tree Plant~

9:31 PM


Just what makes that little ol' ant,
Think he'll move that rubber tree plant,
Anyone knows ants, can't
Move a rubber tree plant!

But he's got high hopes...
he's got high hopes
He's got high apple pie in the sky hopes.
So any time you're getting low,
Instead of letting go,
Just remember that ant.

Whoops there goes another rubber tree,
Whoops there goes another rubber tree,
Whoops there goes another rubber tree plant.

Yes folks, "Whoops there goes another rubber tree plant"!  Seems the Euro guys just can't get their britches on right and no one can really agree.  So once again, they failed to unveil a comprehensive plan to fix Europe.  No plan equals no action.  No action eventually means that something is gonna hit the fan.  But hey, there's always the next meeting on Wednesday!!

And who the hell cares anyhow.  Seems the stock market ......... has ...........has, yes, go ahead, you can say it............. HIGH hopes!  Yes they have.... HIGH hopes.  The DOW was up 104 points today.  One just has to wonder if drugs are involved with those "HIGH" hopes!  I mean come on folks, sooner or later someone has to make a deposit into the checking account or things start to go "bounce"!  Wait a minute.............hold onto your hats........Can it be, yes, yes, yes.........

Whoops there goes another rubber tree,
Whoops there goes another rubber tree,
Whoops there goes another rubber tree plant!

And yet back in the good ole U.S. of A. the bellwether of bellwethers........, yes, we're talking that global industrial company that sometimes seems to predict the state of the global economy.........Caterpiller AKA CAT to you market aficionados........goes gangbusters and reports expectation busting earnings, giving a strong earnings forecast to boot!  Now this is a good sign.  A very good sign.  On top of that, China reported an increase in manufacturing activity.  Another check mark in the plus column.

But everyone knows that ants, can't...........
Whoops there goes another rubber tree,
Whoops there goes another rubber tree,
Whoops there goes another rubber tree plant!

The Charts
Up, up and away~  The Dow, DIA hit the 150 SMA and reversed slightly.  Just above that is the 200 SMA and then the 12,000 mark for the DOW.  The SPY has a bit more room to move to hit those same levels.  And the QQQ's are looking very strong in all three trends getting an "UP" rating for each.  So we have a possible stalling place for the DOW with the SPY not too far behind, and the QQQ's ready to run.  Volume was down a bit, but it was a Monday, so it is somewhat expected.

My take is that with the understanding that Europe could screw everything up on a global scale I am going to say it's time to hit the old BUY button.  Actually, you should have already done that earlier today when  the market opened on a higher high (see yesterday's report)

Oops there goes another rubber tree,
Oops there goes another rubber tree,
Oops there goes another rubber tree plant!

CURRENT MARKET TRENDS
Long Term (Weekly Chart) – UP
Medium Term (3 day chart) – Not quite an "up"
Short Term (Daily Chart) – UP