NO PLACE TO HIDE

ROCK AND A HARD PLACE HAVE ARRIVED

Overnight the NIKK added some but there was no follow through in the CHinese market.

Certainly the market is TRYING to put in a bottom, as it always does during a correction, so far demand has not been able to sustain a rebound past resistance.

We will revisit these areas in my next chart. IMHO there is NO reason to guess, there have been a few initial bear sightings, not everything has clicked over.....but enough to warrant caution.

Government austerity does not lead to economic expansion when you consider almost 100% of current rebound has been direct result of FED and GOV stimulus efforts, of which almost all is behind us.

We have also seen with the employment reports, the private sector in those views is not contributing much in job growth. HOW can we move ahead until enough jobs begin to be created? WTHOUT STATISTICAL evidence even leaning in that direction, to support this 80% rally..based on not only recovery but a MONSTER ONE a V SHAPED ONE.....do you see or feel a V SHAPED RECOVERY? Let me know will you?

The stock market can give us that heads up......and wouldn't we all welcome that? Would it upset you if I got bullish? I can you know.......just to warn you. Who knows maybe even Manute will return or maybe he never left? (inside joke)

Duratek