Today marks one year from the passing of Dom, a trading mentor cherished by hundreds, maybe thousands. Here's to you, Dom!
This morning, President Barack Hussein Obama has been awarded the Nobel peace price. A socionomically significant event for more discussion later. Without any doubt, it's a great achievement. Interestingly, today's also the day an impact test of the moon just occurred; might also be socionomically significant. Socionomics studies social mood and how it's reflected not only in social trends, politics, and fashion, but also in economics. For instance, social efforts to make peace, benefit the environment, expand prosperity by sharing it, and topple the high while raising the low, tend to accompany market highs, because these all correlate with positive social mood as people are confident and expansive. Conversely, market lows correlate with people feeling low - fearful (later leading to anger, action, increased activity and reviving economic activity), protective, guarded. We'll have to see how the current efforts to mend fences among peoples work out in reality. And to see any related movements in markets. We do know now that the U.S. dollar has been sinking toward new lows which seems to be going along with a changing perception and role of this country in the world. And interestingly, that dollar movements down are going along with equities markets going up. Personally I'm curious how to relate increased confidence with the lower dollar - but perhaps this will change at some point to be not inversely correlated - or maybe it stays inverse, and we'll see whether or not the dollar makes a trend reversal.
In equities markets, it's looked like five waves up from the most recent visit to 50-day moving averages. So some respite or more, will not be surprising. And below is the ChartsEdge Pattern Recognition map for today (thanks again Mike!):
This morning, President Barack Hussein Obama has been awarded the Nobel peace price. A socionomically significant event for more discussion later. Without any doubt, it's a great achievement. Interestingly, today's also the day an impact test of the moon just occurred; might also be socionomically significant. Socionomics studies social mood and how it's reflected not only in social trends, politics, and fashion, but also in economics. For instance, social efforts to make peace, benefit the environment, expand prosperity by sharing it, and topple the high while raising the low, tend to accompany market highs, because these all correlate with positive social mood as people are confident and expansive. Conversely, market lows correlate with people feeling low - fearful (later leading to anger, action, increased activity and reviving economic activity), protective, guarded. We'll have to see how the current efforts to mend fences among peoples work out in reality. And to see any related movements in markets. We do know now that the U.S. dollar has been sinking toward new lows which seems to be going along with a changing perception and role of this country in the world. And interestingly, that dollar movements down are going along with equities markets going up. Personally I'm curious how to relate increased confidence with the lower dollar - but perhaps this will change at some point to be not inversely correlated - or maybe it stays inverse, and we'll see whether or not the dollar makes a trend reversal.
In equities markets, it's looked like five waves up from the most recent visit to 50-day moving averages. So some respite or more, will not be surprising. And below is the ChartsEdge Pattern Recognition map for today (thanks again Mike!):
ChartsEdge Pattern Recognition for Oct. 9
Posted: October 9th, 2009 |Author: Mike Korell |
Filed under: One-Day Market Map |
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