Brief Update -- $SSEC

In April, I took a vacation to Iceland, Norway, France and Ireland. While abroad, I read Fooled by Randomness by Nicholas Nassim Taleb. This book made me totally re-think what it was I was doing on this blog. I felt humbled, and honestly, somewhat foolish.

I used this space to analyze charts and make predictions. This book made me question myself -- am I just a fool charting randomness?

This is why I have not written in several months. I don't know if I will start up again and what approach I'll take if I do.

Friday, 6/29/2012, seemed as if it could end up being a pivotal day for markets. An agreement was reached by European leaders Thursday night, EURUSD shorts got crushed and risk assets rallied sharply.

I'll leave to those qualified to analyze European politics--personally I have Eurocrisis fatigue.

Today I'll show just one chart, the Shanghai Comp.; it is one I've shown before. Perhaps I am not merely fool, as previous annotations show that I correctly detailed negative divergences and a top in the index in the first quarter:

I'll leave it there for today and will perhaps be back again soon.