The chart of the Dow below tells the story. The Dow, as of this morning, is in positive territory and looks like it will close up for the day. As I'm writing, the government is still partly shut down. The stock market never took the impending shut down of the government seriously.
I thought one of two possibilities lay ahead. One, upon a settlement of the government shut-down, the stock market might sell off on the news. I now think that the market will surge higher on a settlement. However, I think this is a very tricky and dangerous market. I say this in view of the broadening formation which I discussed on yesterday's site. In the meantime, gold is delivering all of us the proverbial gut-check in that it is down nearly 40 points. This is in line with my view that the world is dealing with the forces of deflation ... Log in or subscribe to continue reading.
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