Chart of the Week: DJIA Making Higher Lows

The DOW has made higher lows and is now in the process of
pulling back to its trend line. This is consistent with a minor retracement
from modestly overbought levels.

DJIA Making Higher Lows
Dow_indus_91205

Source: Stockcharts.com

Note that if Traders get a sense that the Fed may not pause,
or figures out that Oil still remains pricey, we may see more giveback of the
rally. This does not affect our expectations for the rest to grind higher
through November, and then . . .

Random Items:

Fed May Raise Rates Even After Hurricane Katrina

Lessons in Command and Control from the Los Angeles Riots

Move Over, Adam Smith: The Visible Hand of Uncle Sam

On the nature of economic recessions

FOLLOW THE MONEY

Stevie’s Little Wonder

Study: Gen Y Has $2k of Digital Entertainment Stored 

Quote of the Day:

"The two most abundant elements in
the Universe are Hydrogen and Stupidity."
-Harlan Ellison

Category: Markets

Employers remain cautious about hiring

Category: Economy

A few words on Richard Russell

Category: Investing

More Stupidity from the Conference Board

Category: Commodities, Economy

Delayed Onset: Some Historical Comparisons

Category: Investing, Markets, Psychology

9/11

Category: Psychology, War/Defense

Presidential Cycles

This weeks Barron’s has an interesting chart from Sy Harding. If you are unfamiliar with Harding’s work, have a look at his prescient 1999 book, “Riding the Bear: How to Prosper in the Coming Bear Market.” (Spend the $1.49 on used copy — its well worth it). Harding suggests that: “UNLESS I’M LOOKING AT the…Read More

Category: Markets, Technical Analysis

New Column up at Real Money (09/09/05)

Category: Media

The Disconnect and Economic Classes

Category: Economy, Psychology

Briefing.com

Category: Media