Daily Archives: January 12, 2018

The Great Recession=A Blip

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“The most massive financial crisis since the Great Depression.” How many times did we hear that? A savage mauling of worldwide markets, meant to humble and teach us. Uh-huh. Keep it in context, folks. Take a good, hard look at the entirety – – the whole thing – – of the global financial crisis. Use a magnifying glass if you must. Puny, isn’t it? Once the pumpers were let back in the door, it got smaller and smaller………and, I assure you, the world didn’t learn a thing.

diacontext

Happy vs Mambo #5

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I hope everyone is looking forward to the holiday weekend. I know I am, and I am planning to celebrate on Monday by moving a particularly large wardrobe from my daughter’s bedroom, and replacing it with a rather nice antique desk. Life can get pretty wild at Jack’s house. :-)

I was talking about rising wedge resistance on ES yesterday and that trendline has been reached and overthrown today. NQ has reached a decent quality rising wedge resistance trendline as well and TF may have topped out already. We may well see a reversal here, though whether it lasts more than the usual day or two is another matter. Personally I’ll be regarding equity indices as possibly being in a two way market again only after we see a 5% pullback, and I’m aware that could take a while longer. (more…)