Have You Heard the One about Bernanke on the Plane...?

Sometimes as you're working, you think you're seeing something pretty straightforward, so you decide on a count and start labeling.  Then you make the mistake of looking at an index you haven't looked at up to that point, and you start scratching your head and having second thoughts.  That's about the size of things for me right now.  This is one of those updates where my time invested vs. my tangible output for the reader is not anywhere near equivalent.

So I'm stopping myself here, and I'm just going to publish a couple charts without additional comment.

NYA:

WLSH:

I basically started with a bullish approach, then got hung up on a couple other indices which look... well, not exactly bearish, but questionable.  Essentially, I want to see a few more squiggles before plunging in whole hog -- so I'll return tomorrow with a more detailed look at things, and a joke about Bernanke that I haven't thought up yet.  Or maybe I'll just think of a Bernanke joke right now, to lighten tomorrow's workload.  Hmm.  Okay, got one.

Bernanke's on a plane with a priest, a politician, and a U.S. citizen.  The plane is cruising along at 30,000 feet, when suddenly there's a loud explosion.  One after another, the engines fail in cascade, and the captain comes on the intercom and tells everyone to assume crash positions.  Upon hearing this, the priest immediately begins praying.  The politician gets out his cell phone and begins dialing his office.  The U.S. citizen sits quietly for a moment, then takes off one of his shoes and struggles over to where the Fed Chairman is sitting -- once there, he begins slapping Bernanke repeatedly with his shoe.  After a minute of this, the priest and politician both stop what they're doing and turn to the U.S. citizen: "You do realize this plane is about to crash and we're all going to die?  Why are you wasting your last precious moments of life?"

The citizen doesn't even pause long enough to look at them -- instead, he begins slapping the Fed Chairman with renewed fervor.  Finally, in between swings, he replies: "I was about to ask you the same thing!"

Trade safe.