pay attention or pay the offer

Might as well pull up a chair as it looks like any action will have to wait for next week.

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Gee – today’s Consumer No Confidence numbers seemed to have spooked the market.

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There are a few intersting charts were commenting on as we begin a new week.

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The quater point after-market boost in the discount rate won’t materially change interest rates. But will it change market sentiment?

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Will the euro, and the close correlation between it and stock prices lately put the brakes on this equity rally?

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We can look at different charts and derive different conclusions.

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The first month of 2010 is in the books. The big picture outlook for a dollar rally and simultaneous stock market decline is looking accurate so far.

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Most markets are at the extreme of their range (channel).  Is that fact enough to generate a reversal now?

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Markets hit points of recognition when the conventional wisdom fails. At that time, people reassess the situation, and then a new-larger trend emerges.  I suspect we’re approaching that point now.

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There are only two observations of note in today’s charts. Trading remains relatively quiet, with no indication yet of dramatic new trends to mark the New Year.

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There are a number of price levels to keep an eye on now.

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Year-end is both a boring time and an anticipatory time for markets. Most markets get relatively quiet. Yet for some, that quietness is just the prelude to new and interesting trends that break out in early January.  The question I’m stuck on is whether stocks have been held up by year end forces while the [...]

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