While perusing this early retirement reading list for more books to read, I ran across an interesting fellow named Harry S. Dent, Jr. His primary theory is that age demographics are strongly correlated with the economy and thus stock market prices.

Dow futures: +61.12
crude futures: +99.32
Russell futures: none
gold futures: none
Stocks: -169.58
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net: -9.14
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The British pound sterling is currently struggling to hold its value, despite the good news out of the Euro zone that Greek debt talks are nearing an end. The pound had a minor rebound on Monday, January 23, 2012, but experts expect it to give up ground soon. The Bank of England is coming to some conclusions in the near future that probably will include a need to increase monetary support. There is also talk that the BoE will ask to expand the Asset Purchase Facility up above the currently agreed upon 275 billion pounds.

While indices continued their advance for the week, it was market breadth which made the biggest improvement.

The Percentage of Nasdaq Stocks above the 50-day MA rose to 62%, leaving it on course to test resistance from late 2010, currently around 70%.

The Nasdaq Bullish Percents also crossed the 50% halfway mark. Declining resistance for this index is around the 55% mark.

The price action this week has been rather subdued. Most Asian markets have been closed to celebrate the New Year and the economic releases have been minor. Traders are focusing on earnings and the results are in line. Yesterday, the Fed provided a spark when they set a zero rate policy through 2014. The printing presses in Europe and the US are running at full speed. Stocks had a mixed reaction initially, but they eventually rallied on the news. The Dow is close to a 3 1/2 year high. Conditions feel like they are improving, but the Fed obviously has concerns.