Hello Slopers,

This is a late post since due to a short summer hiatus (and it won’t be the only time this summer either).  But I wanted to get these charts out before Bernanke speaks today (assuming Tim gets it posted before then).  Why?  Do I think they might help predict what is coming?  Not a chance.  No technical indicator can do that.  In a spastic world where one guy says something and the market goes down and then he says something slightly different and the market goes up – well, forget predicting anything! Indeed, even if you could predict what someone was going to say, you would then have to make a secondary prediction about how the market would react. Suffice it to say that someone else’s words are completely out of your control. (more…)