Its the end of April, and the bull run on Wall Street needs a new high to break the head and shoulders broadening top that is forming. They seem to have all they can handle to deliver another up month.
They might manage it into the close, but traders are edgy about going long into the weekend with the Greece situation still unsettled. Its probably once again up to the Banks to take it higher, using the government's money.
Just the other week I cautioned a friend on a chatboard I occasionally frequent to watch out for a divergence between gold and equities, with stocks going down while gold holds its ground or rises higher. This is a possible trend change, with the significance that could be quite dramatic in the coming months. At some point there is likely to be a revulsion against fraud, and the paper that supports it. It is unlikely to happen all at once, but in steps, or stages. There are powerful monied interests behind the status quo.
And so here we are, for now.
Saint Michael the Archangel, defend us in battle; be our protection against the wickedness and snares of the devil. May God rebuke him, we humbly pray: and you, Prince of the heavenly host, by the power of God, thrust into Hell Satan and all of the other evil spirits who prowl about the world seeking the ruin of souls.