Friday, August 10, 2012

Best Of The Web 8/10/12 @GerringWM @elliottwaveintl @neiltyson

Today's first article some from Eric Parnell via  Eric runs a great blog I've recently started reading at

In today's post, Eric points out the deteriorating fundamental picture behind this latest market rally.  And if you've been following this blog and my tweets long enough, you'll know that I agree completely with what he says.

"So what has been driving the stock market higher in recent months? It all boils down to one key factor, as most fundamentals are otherwise currently stacked heavily against the market. It is the hope that two of the world's largest central banks in the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) will soon be engaging once again in balance sheet expanding monetary stimulus."

To read the rest of the article, click on the picture.

The next article is from the Bob Stokes at Elliot Wave International.  They run a subscription service, but do offer some free tidbits, like this one.

In their article, they talk about the slowing momentum with each wave up starting in June.

"Each successive up leg within the push from early June has occurred with slightly lesser upside momentum...This chart, which we published Monday (July 30), shows the percentage of S&P stocks above their 10-day moving average. By this measure, the most recent rise from July 24 has been the weakest so far."

To read the rest of the article, click on the picture.

The last post isn't an article, it isn't even about the stock market.  But it should not be missed.  It's a YouTube video entitled We Stopped Dreaming, and it's narrated by the great Neil deGrasse Tyson.  For anyone unfamiliar, Dr. Tyson is not only one of the great scientists of our time, but also one of the greatest dreamers.  He is a huge proponent of manned spaceflight, and the space program in general.  You will not find a more compelling argument than in this video.


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