22 July 2014

SP 500 and NDX Futures Daily Charts

"If you follow issues like Too-Big-To-Fail or Wall Street corruption long enough, you realize that the reason things don't get done about them by our government has very little to do with ideology or even politics, in the way most of us understand politics.

Instead, it's a bizarre, almost tribal mentality that rules our capital city – a kind of groupthink that makes extreme myopia and a willingness to ignore the tribe's ostensible connection to the people who elected them a condition for social advancement within."

Matt Taibbi, Neil Barofsky's Adventure in Groupthink

The market can keep drifting higher on low volume and easy money.

I believe that the Holy Grail of IPO's, Alibaba, is going to be pushed back further into August from its lucky number 8-8 date.

APPL after the bell.

Have a pleasant evening.