When I am wrong, I am wrong, and I believe today's move invalidated the pennant
, bear flag
theory, with the breakout above the borders of the triangle. Will have to wait and watch as to where we go from here. Good consumers number factored in today's move. So the economy is doing better, so the FED should raise Thursday. Is that now baked in? I hear yes as often as I hear no. I am still short this market, maybe because I am so invested in it that way. Regardless of Thursday's announcement, and market reaction, based on the world economy, and oil's demise, I think this markets goes lower, despite everything the euphoric bulls say AND DO. At the end of the day, although for now the economy and stock market are decoupled, the economy is the market, and we are headed for a recession, to follow those other countries already in theirs. If commodities
don't bounce, look out below.