SP 500 And NDX Futures Daily Charts - Saving Private Equity

There was an astonishingly high Philly Fed number this morning.

It certainly helped to bring stocks out of their early slump.

I suspect that there was some misapplied seasonality in there somewhere, since the unemployment number and the rest of the bigger picture certainly does not support it.

I decided to say positive things to day or say nothing at all, so I will leave it at that.  Except that I reiterate my long standing belief that this experience of serial bubbles and widespread financial fraud will lead to new thinking in economics, and a change in the current financial system and Federal Reserve structure.  I can only hope that it will be for the better, and they will not have to knock more than two zeroes off the Dollar.

Have a pleasant evening.

Disclosure: None.

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