No surprises today, light volume melt-up for many equities. No, I have not yet given in and committed suicide. Although I will admit, moments like this do make me wonder why I even play the stock market instead of just converting all my money into gold and silver.
The latter would probably make me more and give me much more piece of mind and free time.
http://thelastcanary.blogspot.com/2011/12/15-dec-2011.html - I can even time the bounces in it pretty well. Despite breaking my downward trendline, I still have not cancelled the 1420 call. I don't know what it will take for me to do that though so it may be irrational for me to maintain it. Its just how I feel.
Treasuries are in an interesting position. Traditionally, they sell off as equities rise and vice versa. See below.
Charts for the day:
It appears this indicator is much more accurate after a retry at the highs.
Short term has declined some time now while the Dow has gone up. This has happened before and usually occurs before a decline, some erasing the move before it, some not.
Summation index still hanging out in the overbought regions.
Intermediate term bonds have stayed strong despite this stock market rally. About to break down or up?
Long term bonds have also stayed strong despite this stock market rally. About to break down or up?
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