Yes, I said it. When it comes to the market I'm feeling a bit "Scrooge-like". Except I won't be having any dreams nor will I be changing my mind and giving money away. Ba-Humbug!!
Yes, it's been over a week since I have written here. I just got tired of saying the same thing over and over as the market churned over and over. And it's still churning!
Feels like an old song by the Byrds, originally written by Pete Seeger in 1959
To every index - Churn, Churn, Churn
There is a pattern - Churn, Churn, Churn
And the Dow will end the year....at twelve thousand.
OK, ok, ok, so there's a few edits by moi~ Euroland, sudden news of good things in real estate (a likely anomaly), sanctimonious Congressmen in the House (and everywhere else) that only care for headlines and themselves, an ineffective President (awwww, can't you guys play nice nice? Come on, we can find the middle ground, pleaseeeeeeee) and an election year a coming. Yea, I'm not seeing the love here people!
Yes, yes, getting off topic. Ok, the charts. Churn, Churn, Churn. We are still stuck in the middle of the support and resistance levels. And I don't see that changing before the end of this year. Yes, the Santa Claus rally could still happen. For the record it technically encompasses the time frame around Christmas and New Years, so it's possible. "Shyeah, and monkeys might fly out of my butt!" Wayne, Wayne's World (Mike Myers, circa 1992)
Momentum - Don't really care
Trend - Sideways
Charts - DIA daily and weekly, SPY daily
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