BOJ Schedule

July 3 Tankan survey

July 14 BOJ
Aug 11 BOJ

"Core consumer prices, which exclude fresh food, climbed 0.6 percent in May from a year earlier, gaining for a seventh month, the statistics bureau said today in Tokyo. The result was in line with economists' forecasts...

Governor Fukui said on June 20 that the central bank needs to adjust interest rates from near zero ``without delay, little by little'' as the economy keeps expanding and prices continue to rise..." - Bloomberg News June 30th, 2006

Past corrections

from BCA

day 23

according to Jeff Saut.

Rounding second base

The market climate does not look bearish with SP500 support holding at 1260 and the NYA50R between 30 and 50. Volatility remains within nominal range for a late bull run. Market action will probably have a few more sessions of herk-jerks until enough optimism has been extinguished. According to Jeff Saut this is about day 18 of a 17-25 session downside process.