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  • Closing Update: Stocks String Together 3 Straight Wins, Commodities Gain [View article]
    Mergers may just suggest that some companies think they will do better if they take advantage of economies of scale. Some may feel they need to do this to survive. It is not necessarily a sign that the economy is picking up. The almost $22B reduction in consumer credit is also a reduction in the amount of money that is stimulating the economy. Longer term it is likely a good thing. However, short term it may have negative implications with respect to retail sales and perhaps the GDP.

    SPY has dragonfly (or hanging man) doji for today on its daily chart. That may signal the end of this short term up trend for the SPY. It's a very bearish indicator.

    SPY was up on extremely light volume. 131M shares traded vs. the average of 191M shares. It's a very bearish indicator.
    Sep 08 16:41 pm |Rating: +5 0 |Link to Comment
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