"Three can keep a secret if two of them are dead."
Another finance person is dead, bringing the worldwide tally to ten. Given the Libor rigging scandal and now the latest Forex rigging scandal, could there be a far larger one with too many involved?
Or maybe it's not a conspiracy at all and just another precursor of a shift to extreme negative mood. After all, the markets are at all-time highs. Or maybe these unfortunate people shared my disbelief in the veracity of the rally.
Robert Prechter, the father of socionomics, notes that the suicide rate will go up as negative mood waxes. Perhaps these deaths, along with the sweater blanket trend noted yesterday, are harbingers of coming change.
Market wise, yesterday worked out great. Price reversed from 1854.38, just above the 1853 level. There could still be a lower low to test the volume shelf, 78.6% level, and possibly fill the gap at 1845.73.
Slowly but surely, however, this market is showing that it's not yet ready to go down in a blistering impulse. That eventually means higher highs, in my opinion. But the clock is ticking.