Sunday, September 16, 2007

Entry for July 31, 2007

It would seem that a reversal in is in place, though it is hard to trace support levels. Anything lower than the newest low of 1462 on the S&P 500 can be trace all the way back to mid April of 1452. My natural instinct is to go with the fundamental feel, but with volume consistent with a down trend this may only be temporary before the S&P falls to a more solid support of say around... based on a glance of only support levels of 1438 to 1440.

One thing i would like to note off subject, it is amazing the influence American culture has on somewhat remote societies like in Vietnam. It is not even just the effect on cities. Well known hip hop artist and other culturalistic icons of which express our zeitgeist are quite popular in modern Vietnamese society, as well I'm sure would have to be similar in other countries. It would appear as if America though maybe not predominantly going to be leading in the future economically, but sure as hell will with pop culture. Though no doubt, it almost seems reminiscently familiar with the ideas of European fashion in America, and how Europe seems to be where "fashion" originates from and goes to hip scenes like NYC. Perhaps over time, everything will naturally recycle itself. As Eastern countries rise to power, and America will become more socialistic. Though this is not like it will happen in one day or anytime soon. Naturally globalization will fuel this further no doubt.


A similar picture develops on the DOW with its more overstated moves and psychological effects.

All and all i still feel more bullish on the fundamentals of the economy, though as i have been told many many many times, economy DOES NOT equal the markets. It seems that may as well have fallen in love with my own idea too much. The technicals were all there telling me it was time to sell, and i did not listen. As we speak, the bond market seems to be back on its upward rise...

Another side note, only in American can we find such a diverse crowd that which produces our unique and appealing pop culture. The mix of people, though arguably still skewed in favor of the white man, is at least more than what most countries have. At least what our country IS supposed to built upon is represented by the people. As to how this will affect our future is truly hard to say, but definitely America is something that cannot be ignored, and people spewing nonsense as other people taking over the world etc... I tend to see it more as a push towards globalization = a push towards socialization since people will have to learn to cope with each other as more and more peoples lives improve. To have a society IN modern today cannot simple have the amount of capitalistic countries we are developing now. It will be too inefficient to be able to sustain all scarce resources, Either that large amounts of people will become even poorer to sustain the other capitalistic countries. There is not doubt a balance exists between poor and rich. IF you have rich you need poor, if not it must level out some how.


in terms of market, temporary upward trend and continue downward trend, is what i would have to say technically, though i can't seem to get rid of that itch saying this trend will only continue up and that support levels aren't literally touched every time or even most of the time... Well lets see how this pans out for the rest of this week.
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Tuesday July 31, 2007 - 09:08am (EDT) Edit | Delete | Permanent Link | 0 Comments

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