There is quite a bit of 'tension on the tape' despite its calm outward appearance and rangebound trade.
They will either break this out into a new phase of the bubble, or the market will take a dive. I do not think we are more than a week or two away from a resolution to this, but it could drag on until the end of March and the final reckoning over Greece.
Whatever happens, go with the flow, because the pent up energy could provoke quite a move in either direction.
Or even better, get out and stay away until the situation clarifies in Europe and the Mideast unless you are an active, professional trader.
As may recall, the film Manhattan Melodrama was made famous by the introduction of the previously unrecorded song Blue Moon but with a different set of lyrics. It was such an attractive meldoy that the studio brought the song out afterwards with the original lyrics and a classic was born.
It was also the last film seen by John Dillinger before he was gunned down outside a Chicago theatre in the company of 'the lady in red' by Melvin Purvis and his G-men.
