While market is down. I see some contradictory breadth measures. Decliners are outpacing advancers. But Up Volume is better than Down Volume. This is true at this moment on both NYSE and Nasdaq. It can be that money is running from juniors into large caps. Regardless, I do not like it. A true decline should manifest itself in all data points.
When in doubt, stay out is my motto of the day.
Sold another 1/3 of the NDX future shorts. That way, I am guaranteed really nice profit for the day, and can close the shop and go do something better than trying to figure out what group of inmates are in charge of the asylum for the day.
Just remember 1018 has proven itself to be a battle line. and 1041 was rejected this morning.
Have Yourself a Wonderful Weekend!
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago