Yes, it was a Monday all right. Google the lyrics and see if things don't make more sense. And looking at the volume one wonders if everyone stayed home to make it a four day weekend! We are chopping around, gapping up-down here and there, the likes of which I have never seen and with such persistency. It's all about the news, the jitters, a nervous market and......wait for it..........yes........EUROPE~!
Today was a bit of a down day. But no damage done to the technical picture. We are still "Up, Up and Away" (The Fifth Dimension, circa 19676)
No changes in the trends. Daily SPY chart below. I showing the SPY to illustrate the decline in volume which does not really show in the DIA but does show on the SPY, the QQQ, and the actual DJ-30. Of particular note is the fact that Monday's volume was more anemic than last Fridays. And last Friday was Veterans Day!
CURRENT MARKET TRENDS
Long Term (Weekly Chart) – Up
Medium Term (3 day chart) – Up
Short Term (Daily Chart) – Up
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