This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
I didn’t think so. But after yesterday’s selloff in stocks, I thought about George Bush One’s famous gaffe, in his September 7, 1941 Pearl Harbor speech.
I don’t think yesterday was Pearl Harbor with the bears finally sneaking up on the bulls, but, as always, we’ll see. Besides, the bears are the good guys. We would never mount a sneak attack from across the Pacific.
We’d do it in Tokyo, and then attack Frankfurt and The CIty of London, before heading to Wall Street. And we’d do it out in the open.
Today we’re off to an interesting start. But they’ve already reached sport at 4500, and 4496, with more at 4490. The 5 day cycle projection is 4490-95. Hourly cycle oscillators are kind of iffy. If 4490 doesn’t hold, then it gets interesting, with a possible target of rock solid sport at 4465.
By the way, I subsequently realized that my point in this post was too subtle for some people. That point is that, of course, September 7 wasn’t Pearl Harbor Day. It was December 7.
Meanwhile, here’s a chart that I cover regularly as part of the big picture liquidity analysis at Liquidity Trader.
It’s the 10 year Treasury yield. Bullish, or bearish? Well, it depends on your perspective. Then again, it depends on your perspective.
Get the big picture here. Read it for 90 days, risk free.
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.