Thursday, July 16, 2009

WHOOPS - > ? here comes the GRUN WELLE ?

Or so it looks, Mr. Nasty's daily reading has come up for air, and has his head barely above water, for now.

The other image is a quick and unrefined look at the volume vs the price, and in a decidedly UN-BULLISH manner, volume is declining as price advances.

Top chart here shows the NYSE advance decline line, with a series of green dots behind it measuring manifested LIQUIDITY by two securities that are sensitive to US Treas and FED market operations which provide liquidity to the markets in varying degree.

Total up what you have here, and it is NOT a text book Bull market, more like a herd of lemmings floating on pools of liquidity, flogged onwards by fund managers, black boxes, and quant algorithms, onward across the PLAINS of COMPLACENCY towards the CLIFFS OF EUPHORIA. However, I think there will be little joy in Mudville as the Treasury continues to sell debt in the markets, this days portion, 130+ Billion.

It is as if the Treasury is sucking all the Oxygen [ cash ] out of the room, while providing SCUBA breathers to its main players to convince those looking in, that all is well..... so no one sees the Bears or the Bear markets in disguise, as they are hiding in plain sight. No that is not Grandmom's bear rug over the couch, its a BEAR masquerading as a couch...........


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