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[prytania3]

There is no reason for it to go up--but that doesn't mean it won't.

Technically it's in a channel. I am expecting a breakout of the channel. Common sense says down, but that could mean up.

You're still fighting the fed.

[mad_doctor]

At this point, I'm not sure there's anything the fed can do to help things, prytania, short of taking back everything they've done to screw it up.  The problem with that is they may be past the point of no return where they can take it back.  They've used up all their options.  They can only raise rates, but that won't help the economy in its current condition.  Everything else the fed can do (e.g. print more money, etc) simply won't have a [positive] effect.  They're putting band-aids on a patient with internal trauma - they can patch things here and there, but they have no tools left in their toolchest to fight the real problems.

[prytania3]

The speculators could still run it up a bit more.

I will look at the chart again tomorrow.