“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
04 June 2012
SP 500 and NDX Futures Daily Charts - Quiet Day Despite Early Volatility
The light volumes made the Spoos amenable to the old push and shove.
Markets are still very edgy, with today as perhaps just a short covering pause and some profit taking on the bear side.