How can Bernanke say that the U.S. is in recovery when things are getting worse...housing...unemployment...inflation...and that is after the Fed has thrown billions of dollars into the hands of the banks? And, how can he say that the second half of 2011 will be better if he doesn't know why things are worse? Hmmmm...my eyes are wide open...
The 4-hourly chartgrid below of GS, C, XLF & JPM shows that upward momentum has not resumed in the Financials in a meaningful way yet and that, in fact, the downtrend which began in the early part of this year is still in force in this sector:
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. July 18 @ 2:00 pm ET ~ Beige Book Report
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* Wed. Aug. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
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IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance