23 JUN 2010, Wednesday

• If we were in recovery would New Home sales and rates on 10 Yr US Treasuries be going down???
• There seems to be a disconnect from what's being said and what is really happening.
• Being careful!
• If the market is going to bounce higher, it's at a spot where it better hold and get to it.  Chart from:  http://pugsma.wordpress.com/

• Otherwise, setting up a potential head and shoulders pattern measuring to the low 900's.
• Would still like to see more of a bounce for 2-3 weeks for a reasonable potential short...1140's? 
• One day at a time.