Tuesday, April 17, 2007

Index momentum

seems to be keeping things going, but underlying price action is a little slower than yesterday. Strong momentum has returned which makes me wonder if we go another two months and run this thing up 50 more points or sometime soon we have a real crash that makes last month look like a walk in the park.

I think participants are becoming more and more convinced that the system is impervious to any shock because everything comes back.

No comments: