(wed. 8/13) LOOK AT THAT!

Well, you'll be able to see it better at the end of the day when I post a graph.

 Do you recall several days ago we discussed a noticeable "floor" at 99-19?  Well, like clockwork, the curve just bounced right off the high side of 99-18.  It was a relatively "tanky" downtrend until getting into 99-19 area.  It is a great sign from a technical perspective and has given us quite the noticeable bounce.

Ardent floaters take solace.  We may live to capcize another day.

 (although Fed's stern seems to think core inflation will rise in the short term.  whether he's referring to the numbers that economists have already forecast or his own prediction that it will rise faster than forecast is anyone's guess, but likely not the latter).