Monday, August 29, 2011

Kind of my "best case" scenario, we go up to "test" the middle of the "W", and set up a Cup and Handle type thingey, some where around $121-121.75, which is the cup rim, then we pull back in the Handle, more than likely to FILL the gap we left today, at $118, then blast off to finally get back to $126, where we eventually fail, heading back down into the dark depths of hell.
Big economic week, we started it off with a bunch of YEEAAAAAAAAAAAAA's in the MSM this morning over the INCREASE in consumer spending, I have a big HAHAHAHAHAHAHAHAHA, over that one, as no one seem's to mention how much of the increase is due to the gas prices, which are not being helped by oil being up over two bucks today! Also, I seem to see an air pocket in the MSM when it comes to talking about the increase it income being 1/10th of a percent, while the increase in spending was almost 1 percent..................... oh well, if it's inconvenient, then don't talk about it.
Most of the reports are the typical important stuff that don't need mention, HOWEVER, the, "EXPECTED", number for the ISM report just cracks me up to no end, I mean, if that number comes in as "EXPECTED", we are talking recession, so, WHAT IN THE HELL IS ALL THE EXCITEMENT ABOUT!!!
Wad ever, if nothing else Da markets are entertaining.

2 Comments:

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