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.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. For the traitor appears not a traitor; he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague.” Marcus Tullius Cicero