Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Wednesday, August 31, 2011

Wednesday Market Action

The EWI guys figured the 50% retracement of wave 3 at the area surrounding 1228, where I figured 1223.  Either way, the SP500 index spent about 25 minutes this morning above 1228, and even spent 3 minutes marginally above 1230.  From then until now - about 1:45 - it's been at 1223 give or take 3 points.  So far, this has been a very uneventful - shall I say sideways - day.  Unless something interesting happens in the next couple of hours, I'm not going to bother with a chart. 

Update:  Nothing interesting happened.

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