14 October 2011

SP 500 and NDX Futures Daily Charts



"Tricks and treachery are the practice of fools, that don't have brains enough to be honest."

Benjamin Franklin

This is about as far as it goes before breaking out, and the volumes had better pick up because they are too thin to sustain a new bull leg just yet.

The G20 are meeting over the weekend and expectations for a comprehensive solution to the European debt crisis are high.

More of the Financials report their earnings next week. They could be disappointing.

I see a higher risk here for a surprise to the downside, but absent that the liquidity can take it higher first.

I will be surprised if the G20 meets expectations for a general resolution to the debt crisis.