UPDATE- Gonna get some charting done this weekend and see what I come up with. Bottom line is even with the massive divergences pointing down, the markets can not be trusted. AA kicks off earnings Monday after the bell, so without any (really terrible) news and if AA surprises, who knows, with all the accounting changes and rules violations that go unpunished, what king of numbers they will come up with? I ecomend the sidelines unless a clear trend is given.
GL and enjoy your weekend.
UPDATE - Dig this one -
Look, things are out of control and we all know it. We know austerity measures are coming globally, wars are most likely inevitable and we can be guaranteed the MSM will be controlling your news feed to supplant the governments agenda so we all remain calm and orderly while being raped by the banksters and Wall St. desperate times deserve desperate measures. We all know in the (more recent) words of Rham that a crisis is a terrible thing to waste cause you can impose your will on those in desperation. So impose they shall.
From the light side of the spectrum we get S.F. considers banning sale of pets except fish. MMMkay? So local governments (Pelosi's neighborhood I'm guessing) are going to impose their will on what we can and can not sell. I get them challenging mary jane sales but pets? Why? ""People buy small animals all the time as an impulse buy, don't know what they're getting into, and the animals end up at the shelter and often are euthanized," said commission Chairwoman Sally Stephens. "That's what we'd like to stop." OK, so people waste things and that sin needs to be stopped. Well, I have to ask, if they ban the sales of pets for these insane reasons, then what will they be banning next? This is out of control behavior by desperate people looking in the wrong place for a solution to a larger problem.