1 Jan 2013

 The shortest term is back overbought.  A solid bounce has taken place in the other time frames as well.

 The medium term summation index is decidedly negative compared to previous peaks.

The short term summation index still lags the most recent peak.  This is only a correlation with the Dow.

As for the oh, so, terrifying fiscal cliff, only politicians could claim doing more of the same (printing and spending instead of taxing and spending) is a solution.  I'm glad that they lived up their chance to be in the limelight and feel important be wasting two weeks to do what anyone with a brain expected them to do...kick the can.

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 

Ron Paul is still right.  More deficit spending, more erosion of civil liberties.