The collision of global markets and social mood

Wednesday, October 26, 2011

Back Inside The Top

Remember this chart?



Here's the update.



Futures are blasting to the moon this morning, which is apropos, being a new moon today 7 hours from now -- right in time for the close. A new moon usually brings change: change in weather, and sometimes change in market direction. The question for today will be whether this change blew in a day early, or if it happens today.

About all I'll venture at this point is that I would not be surprised if the upper trend line gets tested. A breakout above it would argue for new highs. A failure would bring 1190 into focus, and fast.

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