The index is coiled into a tight spot, and is likely for a sharp move, but perhaps not until the GDP number is released on Friday.
25 August 2010
SP 500 September Futures
Category:
SP Daily Chart
“Some economists, when thinking about long memory, are concerned that it undercuts the Efficient Market Hypothesis that prices fully reflect all relevant information; that the random walk is the best metaphor to describe such markets; and that you cannot beat such an unpredictable market. Well, the Efficient Market Hypothesis is no more than that, a hypothesis. Many a grand theory has died under the onslaught of real data.” Benoît B. Mandelbrot
LE CAFÉ AMÉRICAIN
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