9 FEB 2011, Wednesday (AM)

• Is the market approaching an Icarus moment?
• Really hasn't been much to say as the market keeps, ever so slowly, eeking and squeaking steadily upward.  Yes upward out of the sideways.  Still above 20, 50 and 90 day moving averages and the first daily pivot is down at 1291 while 1275 is much more important.  
• I just think that the risk to the downside is greater than the potential to the upside.  Having said that, it doesn't have to come down.  It can continue it's slow steady crawl upward, and to see that......
• I'd recommend looking at the charts on the sidebar that include the "envelopes" and "standard deviation (std dev)" charts.
• For now, just feels like....

• Thoughts regarding cutting military spending?  Sure, just as soon as ALL OTHER programs take the same percentage based cuts.  I've no problem with that!  Anyway, here's an article on the subject.