S&P 500 - Aug 6, 2010 - Intraday

Many things I talked yesterday's post have come to be.

Pussyfooting bulls

weak momentum

diverging breadth

price gymnastics

Now, you know why I play my own game without much regards for market animals and their hopes and dreams


Is this yet another correction in an ongoing bullish 1-2-i-ii-1-2?

Was it the end of a diagonal C or some other sort of counter trend pattern?

Too soon to say.

As I said, I have no desire to see gains evaporate by taking side with this market animal or that.


Did not even wait for my 1110 -- just reduced and hedged and we'll see what happens for the rest.

I may check the market again in the afternoon, if I do and find something interesting, I'll make a post

Have a Nice Day!