Yet another day of high volatility, with the smart money doing more late buying.  Things are certainly looking bad, but isn't that when the smart money is supposed to buy?

I am still in cautious mode but I do enjoy trading this volatile market.  There is so much bad news out there and that can be a good time to buy if you are not an active investor, but if you are, the worst may not be over - but we could be getting close.

Rather than comment on everything going on, I am going to show you a series of charts and let you try to draw your own conclusion.  The question will be, is all of this already priced into the market, or do stocks have to go through more pain to catch up to these concerns?

Oil - new all-time high...




Housing - Well, you know the deal...




Gold - new highs...




U.S. Dollar - Low and lower...




Not a great picture, but the herd is very concerned.  Maybe overly concerned (which is good for stocks).




Stocks are trying to consolidate after the recent selling...


                                   Charts provided courtesy of www.decisionpoint.com

So, what do you YOU think?  Has all this been priced into the market?  Will the decent earnings report from Microsoft after the close yesterday be what the market needs? - After all, earnings are what it's all about. 

The TSP Talk Sentiment Survey System remains on a sell signal for next week after this week's poll.  The results:  Bulls 50%.  Bears 33%.  Ratio 1.52 to 1, which is neutral.

We have a new Market Debrief article from Divot today called, The Art of Bluffing.

That's all for today.  Have a great weekend!
 

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