Like the zigzag roads that the Romans built in order to ascend mountains, the market continues to wind its way upwards, as demonstrated on this 60 min (market hours only) chart of the Russell 2000 E-mini Futures Index (TF).
At the moment (Monday's close), price has been generally confined to the uptrending channel. Until we see that trend broken by a series of lower highs and lows (with deeper drops), we'll likely see that continued, as the markets (backed by the Fed's unprecedented monetary easing and asset purchase programs) seem to be adept at fending off negative global and domestic news and economic events, including perceived threats of negative contagion. In other words, the markets appear to have the mentality of "Id imperfectum manet dum confectum erit." -- "It ain't over until it's over."
However, the notion that "government 'theft' of bank depositors' savings could not spread to other countries and would not be a concern anyway, because money tied up in the markets is not sitting in a deposit account and is, therefore, safe from a similar fate" would be naive or ill-conceived. The mere fact that this has been conceived for one country is evidence that such a scenario exists for others as an unformed probability and is subject to the irrefutable Laws of the Universe. The Law of Attraction dictates that belief in and acceptance of such a possibility will be attracted to that source. Ultimately, force never ends well and what happens in life is eventually reflected in the markets.
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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...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. Feb. 18 ~ U.S. Markets Closed for Presidents' Day
* Wed. Feb. 20 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. Feb. 21 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9 (now in contraction mode)
* Tues. Feb. 26 @ 8:30 am ET ~ Core Retail Sales Ex Autos m/m & Retail Sales m/m
* Wed. Mar. 6 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 8 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Mar. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...