Indexes have continued to find modest pricing and short covering in sadly thin advances. While the numbers look strong in terms of percentage gains , the technical price characteristics are dismal. This week has all the elements for a 'pump and dump' top as professionals begin to liquidate, preferably on new highs, portions of trades accumulated over the last four weeks. Bulls who have successfully been fighting off repeated attempts to break these markets recently will roll over as the big dogs begin to exit.
For all the praise given to the efforts of Geithner and Bernanke, it is clear the end result will be the healing of banks/insurance with little success in tackling the economic stresses of the general population. They will still be stuck with the losses of a generation with little upside. But what is new. Whether it be Republican or Democratic power thrones, they always end of up serving the same vested interests which are in the pants of those less influential souls who are stupid enough to believe this time will be different. It is the same trickle down idiocy wrapped around the flag promoted years ago which resulted in real gains for a few and a declining standard of living, with increasing debt, for the rest.
