30 July 2012

Bulls:  Not overbought in the long term.  Bears:  Significant divergence between this peak and the previous.

Bears:  Significant divergence between previous peak and current value.

Bulls:  Beat most recent peak.  Still lagging peak from three weeks ago.

"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary."
H.L. Mencken