The whipsaw we have seen this past week has allowed great profits, and an exhausting consolidation where we move near the 11,000 mark repeatedly, only to move up again.
I'll make this simple:
1. Some chartists see a fall to 10,746 (Fib retracement) to 10,850.
2. Some top analysts see a fall to just under 11,000 several times, before more upside to near 11,600
3. Some chartists see the upside to 11,374 and a drop of 584 average points. (10,790-near the retracement)
Today March consumption, personal income, construction spending and the April ISM index factor are all announced. Analysts see all coming in flat.
Tomorrow UBS and Mastercard report.
Tea Party folks and anti Obamaites may be having a bit of a problem seeing the banks pay off TARP, GM paying down debt, Chrysler showing a profit, and the stock market up.
These folks may have trouble understanding what has been accomplished, and not yet even understand that it is NOT a corrupt generation that created this, but instead a corrupt public and business model; we the public being as guilty as those that misled us legally.
We open the week with no open signals.
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