High Ho, High Ho, Where will the Market go?
Will it go up high,
Will it go down low,
High Ho,
High Ho, High Ho, High Ho~
Ahh, if only it was all as wonderful as Snow White and the Seven Dwarfs. <Sigh> Instead we have a week marked by poor volume and little movement. Of course this compares with the willy nilly, wild moves of late. So it's a nice diversion. Europe is still there but it seems the market is getting used to the idea that Europe is a mess and will be so for a while. Hence, instead of crazy big moves we just sit and waggle.
In the meantime, we can sit back and watch as the few and powerful try to squeeze Occupy Wall Street into submission. Seems suddenly someone is a bit worried it might be the beginning of the peasants actually starting a revolution! OMG~ So pressure has been brought to bear, a few phone calls to the right places and suddenly the police are trying to break up the party. Of course they forget that the best way to actually incite the revolt is to try to stop the party. <Sigh> Pity the poor powerful fools. Perhaps they should just say, "Let them eat cake"~ Hey, it worked for Marie Antoinette! Didn't it? Well, at least up until the part where they used that guillotine thingy and beheaded her! NICE~!
The Charts
Not much to report on here. But an interesting note, the DIA and the Q's are above the 200 SMA. The SPY has not recovered and is stuck beneath the 200 SMA. A divergence that lends to an air of uncertainty. It would be nice if all three indices where above their respective 200 SMA. That would give a stronger indication of an upside resolution to the week/month. No changes in the trends. Below are the daily charts of the SPY and the DIA.
CURRENT MARKET TRENDS
Long Term (Weekly Chart) – Up
Medium Term (3 day chart) – Up
Short Term (Daily Chart) – Up
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