Technical Analysis Fallacy

"It’s not meant to be easy to do all of this; in fact it’s meant to be very hard. If it were easy anyone could do it. Almost everyone knows what it takes; few can actually do it consistently. That's the challenge. When adversity strikes even when you're doing the right things, it’s not unfortunate because greatness is not just about doing the right things, but about doing them even when they cause pain and discomfort- weathering the tough times is the inherent prerequisite for being great. Adversity is built into the game and therefore it’s not an unfortunate set-back that is keeping you from your potential; rather your potential is cut very short without being able to deal well with adversity. So expect great results long-term, but adversity and ups and downs short-term. It’s got to always be about doing the long-term beneficial, not the short-term pleasurable. And we don’t deviate from that, no matter the pressure. And we relish the opportunity to be mentally tough when adversity strikes when so many would wilt and when it feels so unnatural to be optimistic and confident. That is the real goal and priority. Now keep conditioning- constantly reprocess and replace any thoughts that aren’t in line with all of this. It will take a great commitment to unlearn old thinking patterns and instill a new way of thinking to the point of habit. And you can do it."

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Without that reassurance from the ECB, investors will start to evacuate the many long positions they still have in the single currency, driving debt costs even higher, bank shares even lower, and the demise of the euro currency even nearer.
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WASHINGTON, Dec 1 (IFR)- The latest Fed Beige Book, surveyed from early/mid October to mid November, states that the economy continued to improve. The findings look clearly stronger, if not sharply, in almost all sectors outside housing compared with the previous Beige Book seen on October 20. Signs of some improvement in hiring activity is probably the most significant change as we await Friday's payroll release. Even the price findings look marginally less soft.
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