Cancer was cured, so was AIDS, and Alzheimers, World Famine, Europe is Debt Free and the Chinese and Japanese as well as all of our debt holders that they have forgiven our Debt, Congress has passed a balanced budget, and we have a surplus!
Was there any other news I missed??
Gosh what Day!
consolidation will happen on low volume and I believe that is what has been happening (on ultra low volume though)
HOWEVER, if the consolidation phase continues sideways (due to the ultra low volume) this may result in distribution.. if the VIX stays flat and/or ticks up I believe we are moving from consolidation into distribution (should see more volume though).. which should send the markets lower.
consolidation is a base is built over a series of days that lend suport to a continuation of recent trend. Rolling over is a reversal of that trend. At least that is what I know. Churning... is what happens when consolidation is forming. The longer a range churns in a trend the more I'd think it becomes consolidation... but if it goes on too long, I'd think that it could become a bearish signal. Love to hear Roger chime in here.
All SnP companies under reported their revenue. They actually are increasing sales. IBM actually beat earnings without a favourable tax credit or the mysterious misc income . They quit borrowing money to buy back shares. JPM quit using DVA's to make earnings. Cisco is growing and is not discounting their products. The NLRB is right and people are buying summer homes now. SHRK I'm about to check myself into nuthouse. GL
It's not that I think that I'm that worried about anything right now, the world isn't great, but it's not as dire at this moment as has been, due to Central Banks promising, and Fed Actions, but rather there is nothing substantive that I can pin todays actions to other than cycles which are up for a few more days, but usually many times there is something that can be drawn upon. This I just can't get a figure on except for options exp. That's pretty weak too? Mostly, this rise on the heels of 8 out of 10 days up is pretty rare. Very rare. Corp earning are down... This is building permits??? Crazy