Daily Reading on the Financial Markets: 10/24/12
Charles Hugh Smith suggests a non-corporate economic model that focuses on local guilds. For those with concerns about energy capacity, the model may be of more than academic interest.
Market technician Chris Kimble notes that, despite an equity sell-off, Treasury yields have continued to trend upward, setting the stage for a possible upside breakout.
The Big Picture passes along a suggestion that the S&P may be forming a “3 peaks and domed house” pattern. What is that? I don’t know, but here it is.
From Value Walk, it looks like hedge funds aren’t doing a good job of being hedge funds, offering returns that are tightly correlated with the S&P over the last 5 or so years.