It seems they are predicting more bank layoffs soon. I think it is a joke that some analysts out there are saying the economy is 'getting stronger', or 'recovering'. If you walk down the street and ask any hard working Mom or Dad just exactly what is going on in their house. The answer will surprise you. Yet the two biggest morons in the world, OBAMA and ROMNEY battle it out, and talk about how they are better than the other moron, will strengthen the economy, while billions of dollars are pumped into the election campaigns. Anyone else see the problem there?? Errrr, well, ok....don't get me started!!! LOL. :P
Anyway, in our last post here, we hinted the DOW JONES TRANNIES (or the leader of the market) was not looking too healthy at all. There was increased selling volume while it started selling off. That was a good warning sign. Today the trannies broke out of what I would call a pennant, and then bounced, back to the support of the pennant pattern. The weakness did roll on over to the follows S&P and other indicies as well.
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