The tug-of-war is plain as day: on the one hand, rational, logical, discerning truth-seekers, and on the other, unhinged, empty-headed, permabull nutjobs. We can see this play out by the way of the Dow 30 ETF (symbol DIA) as it has been hurled down, then up, then down again, by thousands of points. I naturally worry that we’re pushing toward the bottom of the range and will, by federal edict, simply thrust higher again, but hope springs eternal in the bearish breast. Let’s see what the fake PCE inflation data can accomplish on Friday morning.
