Thursday, September 16, 2010

Heroics

The extraordinary interventions in ALL markets by the central banks and gov.'s of All the major economies finally may be having an effect. Most markets are stable.  Nice work.
 The mid range point has been achieved once again..
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Note the volume for the month of Sept.,  worse than August! See Stocks Surge To Celebrate Unprecedented 19th Sequential Equity Outflow, $10 Billion In September Redemption

Check out the weekly bar chart .


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This mornings high of 1228 is the 50% retrace of the entire move down from 1578 to 666, as well as the middle of the range for the last 12 months.

Most of the "forced" price movement from all the intervention over the last year has produced very difficult markets to trade , (unless you are an algorithm), for both bulls and bears. Lots of overlaps and false breaks.
We have seen very very few structures that look like classic impulse waves (excepting the Q1).

My guess is that while a very impressive job has been done preventing the worlds stock markets from utter collapse, "All the kings horses" aren't going to be able to manufacture a bull market either.
B wave down anyone?







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