A MarketWatch bullish pundit stated yesterday: “…if it weren’t for the financial news, the market would be doing pretty well right now.” And, he added, “In the bigger picture technology has less exposure to the financial issue going on, and people are still optimistic for a recovery of some degree.”
Bernanke chimed in with more “happy talk” saying that the economy has dealt with the oil price shock comparatively well. How are you folks dealing with it?
You know, being a pundit or a Fed chairman for that matter, is tough work. I don’t think I’d like to be called on to forecast anything.
Volume is picking up again and breadth is mixed with the NASDQ positive with big tech names leading once again. [Dave’s Daily reader Giorgio was kind enough to help the old Fryguy out with this suggestion--Barchart in lieu of Yahoo. Well, why not? Thanks!]
click to enlarge
For the curious and a change of pace, let’s check-in on the Four Horsemen.