The collision of global markets and social mood

Thursday, July 30, 2015

Thursday -- A Key Level Exceeded

Spooky new EU announcement from Google Blogger. I've been warned, and you are warned.

We're all one big happy global village now.

Soon bloggers will probably need a license, especially to comment about the financial markets which are increasingly managed by governments (or, in the case of the USA, quasi-private pseudo-government "agencies" like the Fed).

My comment today -- while I'm still free to say so -- is that the S&P got above a key level, 2110, which makes it more and more difficult to count an impulse down and thus suggests we've been in another correction.

New all-time highs should be attained, but would then have me looking for some sort of top that could last for several months, at least.

Today, maybe a retest of 2100 or 2095.

Closing below 2095 could possibly suggest a more complex pattern to lower lows, but still most likely corrective. The Dow is still notably weaker and remains a concern.

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