The drop/pullback that I talked about in the previous post materialized. Market did every trick in the book to chop as many as possible.
The 1100 level of S&P saw quite a bit of activity in the early going.
I shall keep an eye on 1090 to see if it holds, and 1100 to see if it still attracts sellers.
This is a very dangerous market:
Hostile to the bears.
Extended for the bulls.
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