16 August 2012

SP 500 and NDX Futures Daily Charts - Cue Ethel Merman



Volumes on the NYSE just crossed over 550 million here today.

There is little selling pressure, but almost as little buying pressure except for the fluff generated by HFTs and cynical bubble-meisters.

I wonder if Ben and his Merry Pranksters are mad enough to stress the system with another asset bubble again for the benefit of the one percent.

I am starting to hear traders say: "This doesn't make sense, but don't fight the tape."

From here to whenever, all it will take is one event. As it goes higher, the magnitude of the event becomes less and less.



Ben did not know when it was time to just quit...