Cause 33{01de1f41f0433b1b992b12aafb3b1fe281a5c9ee7cd5232385403e933e277ce6} of everything to this market is buybacks – why not go full retard? This is soooo bubbleiscious! GE Announces One Of Largest Buybacks In History, Will Repuchase $50 Bn In Shares After Selling Most Of GE Capital
On to the lie –
SPX 30m – Well, they somehow managed to hold red support and finally push price through resistance, but the reception this morning was not all that reassuring was it? Those neg divs are fairly significant, nothing they have not seen or overcome before. They are there, yet again, signifying the Fed’s ability to overcome or defy the markets natural desires. The past two weeks was one hell of a battle with critical support. There is a potential rising triangle in there (not drawn) targeting up to 2128. If that’s all the pop that a (temporary) Greece resolution gave, they are in trouble.
Freedom watch –
LS2 is studying the Roman Empire this term in 8th grade history. It’s always good to get a refresher course as a parent in most things. The parallels to the US today are quite spooky. When culture and values fail and greed and corruption take over, it historically has not worked out too well for empires.
Enjoy Masters Weekend.
More to come below.
Have a good weekend.
GL and GB!
SOURCE: Shanky’s Technical Analysis and Market Commentary – Read entire story here.
