S&P 500 - August 9, 2010 - Intraday 2

Once again, bulls are weak at June high.

To the optimist it may be consolidation. To the pessimist it may be failure at resistance.

Or maybe it's lack of will and conviction -- waiting for something? Handout from the Fed, perhaps?


They know what that can do if they ram through and yet they don't.

I sold a little into the top, and am raising my top level below 1115.

Next level stays below 1100 for now