Not much in the way of price action today. Prices were down .18% on the SPYs. As the daily chart below shows, notice that prices opened lower, rallied, fell and then wound up back where they started.
Click for a larger image.
The main action today came in conservative/defensive areas. The TLTs were up 1.25%, the XLVs were up .8% and the IEFs were up .64%. My guess is traders are playing it safe until the Fed releases the minutes on Wednesday. Ultimately this is good for the bulls as it allows the market to cool off right now; the market is pretty over-extended and it needs to let some profits get taken -- or at least move sideways for a bit. Notice how the RSI is peaking right now:
Also note how the MACD is approaching a sell signal:
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The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.