Thursday, May 27, 2010


Closeup of recent action, includes wilds swings in price, expect one today as well. Resistance might be as shown the 200 day exponential moving avg (EMA) at 1101
50 is crashing down thru the 200, classic BEAR signal to yields (lower)

price higher(inverse to yield). Declining MA's will now resist any move higher in yields.....bull mkt in stocks? why HUGE flight to safety?

Oil rises above $73 amid brighter economic outlook
6 minutes ago @

"Oil prices climbed above $73 a barrel Thursday, driven by strong Asian economic growth figures and market anticipation of positive data about U.S. growth prospects. Crude extended its gains from the previous day when the oil price posted its largest daily gain for eight months."

Now, does anyone ask themselves WHO is asked or quoted in the MSM for these important headlines?

Everyday the market is down, we get "Fears of European debt crisis sends stocks lower" "Fear of slowdown sends oil prices down" OR when the market is up we get above or "fears ease and hope grows that European debt crisis is overblown"

IMHO the action we have been witnessing is BEAR MARKET ACTION, this is not typical of a bull market and valuations are elevated near historic extremes.

A REBOUND has been lurking and today probably we get one with oil surging, 10K has little meaning at this point.....let's explore what might with chart above.

Initial cliams and 2nd "estimate" on GDP at 8:30 futures rocking green.

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