By John Galt October 17, 2011 – 18:30 ET THE GREAT MONTH 18 LULL By CalOkie: We are now well into month 18th of this well enduring bank failure and FDIC DIF cost holding pattern. What we have seen on my charts for the past 18 months has pretty much been a flat line. No better and no worst overall. I must say, during this GREAT LULL three states seem to stand out as being hit the hardest by our economic crisis. Georgia…
By John Galt October 17, 2011 – 16:45 ET Well, the musical selection was appropriate… Here is the big picture, click to enlarge/reduce the chart: The failure to break out above 1230 with volume is a nightmare scenario which is why I projected a nasty crash this month and so far, that prediction remains somewhat intact. If anyone thinks the Euros will cure squat, you’re smoking squat from the poppy fields of Afghanistan. To illustrate the damning technical formation, here are the last three…
By John Galt October 17, 2011 – 08:40 ET The market action on Friday was anemic and non-decisive which pretty much means this oversold bounce has run its course and is due to reverse again. Today will probably be that day barring a miraculous piece of news from Europe beyond the announcement yesterday that there would be an announcement on Sunday about the previous announcement which was to make an announcement as to a solution for the announcement to the crisis. In reality, Greece and…
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