23 April 2009

SP Futures Hourly Charts and Short Term Indicators

The market is being supported in a reflationary ramp. The volumes are light, and the action is being dominated by traders who are skittish, and not determined buyers with the conviction to hold.

Is the government involved in propping this market? Are Ben and his friends at Treasury trying to mask the weakness in the banking system?

Of course they are. The proper question is really how long can they hide their errors and mismanagement, and the damage they have caused and are causing to the national economy, if not that of the globe?

These are frightened men, many of whom have compromised their integrity already. Do not underestimate the rationales they will apply to justify actions you, the ordinary person, might consider inconceivable.