actio-et-reactio
Balance is but a brief transition between extremes.
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Thursday, March 11, 2004
The Week that Was
What a week it has been! Loads of technical carnage, signaling at best a robust consolidation and at worst a shift towards an even stronger decline. I'll go with the later as there is evidence of sufficient oversoldness for a bounce, perhaps after the touch of 1096. We'll be watching it.
Do look at the last chart: Price Relative VIX, which I now include on the daily chart. It has proved one of the most interesting observations. Note too that small caps have remained buoyant, a sign of lack of real fear.
Labels: chart-analysis
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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