I especially like the idiots that get on TV and try to explain why the market is up 100 points or down 100 points for the day. And the answer is in reality: RANDOM NOISE
By definition there is no explanation (or assignable cause in the lingo of statistics) .

But day after day after day, the fools get up and say the markets went up today because of this or that or what ever.

thanks for the feedback- you may be right- not sure myself- but I guess my bigger question is if the banning of leveraged ETF’s is the next proposal- especially the short variety- as postulated by Jim Cramer

June May April March Feb Jan Dec
NMI/PMI 47.0 44.0 43.7 40.8 41.6 42.9 40.1
Bus Activity 49.8 42.4 45.2 44.1 40.2 44.2 38.9
New Orders 48.6 44.4 47.0 38.8 40.7 41.6 38.9
Backlog Orders 46.0 40.0 44.0 41.0 36.5 37.5 42.5
New Export Ords 54.5 47.0 48.5 39.0 40.0 39.0 39.5
Inventory Sent 67.0 62.5 62.5 60.0 66.5 62.5 65.5
Imports 47.0 46.0 48.5 37.0 39.0 40.5 32.5
Prices Index 53.7 46.9 40.0 39.1 48.1 42.5 36.1
Employment 43.4 39.0 37.0 32.3 37.3 34.4 34.5
Supplier Delivs 46.0 50.0 45.5 48.0 48.0 51.5 48.0

Remember that numbers below 50 represent contraction, not expansion.

Contracting more slowly does not equal expanding.

We could just as easily see everything turning lower in coming months as higher — in fact, it’s more likely, due to the deepening problems with defaults and unemployment. These things do not stimulate demand or confidence. The best series of numbers in the above set seems to be “Inventory sent”, and an increasing amount of inventory depletion might be bullish for future prospects, but only if demand does not slacken further. The most bullish item that I see is the Export numbers, which is weakly bullish at best, but in contrast with our past export performance, are rather good. But given the difficulties that our foreign customers are in, the one-month above-50 performance in Exports is likely to be an aberration rather than the beginnings of a trend.

But pretty much everything else really sucks. No green shoots apparent.

There. I looked at, and commented on, the data. Happy?

Oh, and personally I prefer sex. Rationalized or not.

I think that most of the inverse ETFs are using futures, equity swaps, and other derivatives for their positions. Someone correct me if I’m wrong, but that implies (to me) that reinstatement of the uptick rule will have no direct effect.

Agreed, crude is down $9 from $73 peak 2 weeks ago, we should find support here…lot’s of energy bulls left. I also don’t believe the bulls are ready to roll over yet, S&P should breakout if even for one last ditch effort.

On the “high side” now I see the 910 area on the S&P…

Look back to 12/18/08, 12/31/08, 1/9/09, 1/12/09, 5/4/09, 5/26-28/09, 7/2/09…

The chart CLEARLY has been avoiding filling in those areas…I say they need to be filled before we break down and move lower (eventually take out 880)…The S&P will have a week or so to do this with crude bouncing off a technical low, and $$ accumulates in the short end of the YC…

There is also YEN buying (vs. dollar & Euro)…Repaid carry trades?

…IMO, about 2 weeks of dicking around between 883 & 910, then we make the big break down…