Wednesday, July 22, 2009
Pretty much the VLE Wedge resembles the GOLD wedge which presaged GOLD dropping to $USD 680 last fall.
Wedges are, IMO, reliable in that respect, and they dont really get the respect they need. So yes I am concerned about the screwy markets here. VLE is unweighted and pretty broad, so I would expect the LACK of synchronization among Breadth, Volume and Price will resolve to the downside.
Continuing to LIQUIFY the economy with Money & Credit Injections will buoy markets for awhile but have some undesirable effects that will eventually cause the very markets they liquify to breakdown. That is the reason I think we see the divergence btwn Volume, Breadth and Price.
Updated the STP LIMIT prices on CPX, SD, CYD, QTM, PZE, EGY, GCI, SSP, GMK, FRG, on
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