That being said, I am still deeply concerned about the fundamental background for stocks right now. The most recent Beige Book showed extreme weakness. While there were pockets of strength, they were more like wishful thinking then actual good news. Of course, that leads me to remember an old trader's adage which is the trend will always go farther than you think....
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3 comments:
Markets are up because the sun is shining, the birds are chirping, and the people who play in the markets are optimistic. It really is that simple.
This leads me to ask: do you rely solely on technical analysis, or do you have larger questions re context of the TA and how do you mesh the two?
I like the technical analysis because you read the picture in front of you, not the commentary we hear all around. Most people are distracted.
I look at your site to see what happened, and you tell it like it is.
Thanks.
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