I remember the line from “Airplane” – “I picked a bad week to quit sniffing glue.”

I feel just the opposite here on my month away from home in Toronto. I picked a great month to be away from the markets (knock on wood, salt over my shoulder).

It is a yawner and I am happy about that.

I do feel that there is trouble ahead and I will explain, but it is just a feeling. Not enough to pound the short side of the market. I think we are close to the FED reflating, again, not worth a major bet. Obviously the market agrees at the moment as we drift.

As TraderTim (added to my blogroll today) points out:

Let’s face it. Nobody likes this market. Not bulls. Not bears. Nobody. And why is that? Because nobody owns this market! It’s in this exasperating no man’s land of equilibrium. This market has been trendless so long that I don’t think people even remember what a trending market feels like!.

On where we are headed, Maoxian uses pictures to save 1,000 words with these beauties:

1. Nothing can save the US Dollar and,

2. Nasdaq 100 Than and Now

As I have been posting, buying the Nasdaq here is just plain gambling. There is no edge unless you are cheating.

The US dollar/ Short-term rate chart give Maoxian conviction that the dollar will likley crumble here. I think it implies that something has to give to close the gap. Betting on when is up to you and CRAMER and not for me these days.