25 July 2012

SP 500 and NDX Futures Daily Charts

More shenanigans as the equity market shook off the awful earnings reports from last night and came off the lows on expectations that Uncle Ben would crack open the beer barrels of quantitative easing again.

Tim Geithner testified to the Congress today, and he is the very picture of the bureaucrat. Intraday commentary inspired by his performance here.

"And he began to teach them, saying:

'Blessed are the poor in spirit,
  for theirs is the kingdom of heaven.
Blessed are they who mourn,
  for they shall be comforted.
Blessed are the meek,
  for they will inherit the earth.
Blessed are those who hunger and thirst for righteousness,
  for they will be satisfied.
Blessed are the merciful,
  for they will be shown mercy.
Blessed are the pure in heart,
  for they will see God.
Blessed are the peacemakers,
  for they will be called children of God.
Blessed are those who are persecuted for righteousness sake,
  for theirs is the kingdom of heaven.

And blessed are you when people insult you, persecute you, or falsely speak evil
  about you, because you stand with me.'"