This market is riding in a groove of high clear water between waves coming from both sides... Technical Analysis works when there is constant put and take of pressure which changes with Volume....this market is not reacting to the geometry of Technical Analysis - it has been a "full speed ahead" market - with early controls promising a change, a trap if you will, and then moves past Resistance like a wind picked up to push it over the line....yes the change in the $ value is part of the cause....the folks who feel that they didn't board the train before it left the station - and the pros who are playing "Bait and wait" for those who always pick the wrong time to get in. Not included in Technical Analysis is a greater influence....The Full Moon Coming which starts its "Draw" about 4 days before it becomes a force to deal with - "Change"
Those of you who missed courses in Economics relating to GNP and what influences GNP - inflation, etc. Government Spending (worldwide) takes a big seat at the table.......
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