Three out of the four trading days this week experienced 200-point daily moves in the Dow. Some were up, some were down. Still the recent low has held.
The following picture shows charts of the S&P 500 Index on two timeframes: daily and 5-minute bars.
There are clearly a series of higher lows (on both charts). Nonetheless, the market has been fragile lately. A move up from here would be a big confidence booster.
Here are a few of the posts I found interesting this week:
- Hulbert Says The Stars Have Yet to Align to End the Bear Market (NYTimes)
- Big Mac Index: currencies are expensive in Europe, cheap in Asia (The Economist)
- Real Estate is down; so flip a website instead (NYTimes)
And, a little bit extra:
- Nassim Nicholas Taleb auther of Fooled by Randomness & Black Swan profiled (TimesOnline)
- Randy Pausch Gave His Last Lecture (Big Picture)
- Can you use technical analysis on baseball? (Daily Options Report)
- How Are They Doing Now? From “Good to Great” to not-so-hot (NYTimes Freakonomics Blog)