Tuesday, May 4, 2010

Tuesday Update

I will gladly pay you Tuesday for a Hamburger today....

There was technical damage done to the market, for sure.

Distribution measurement methods have shown not just record levels, but twice as high as previous record levels.   They have been ramping and distributing for over 6 months now....it looks like a culmination.

But Big Ben got his printing press....except this time around, Goldman won't participate in the late night ramps jobs.   But there are plenty of other brokers out there, now "acting" as banks for the purpose of getting free money.

The 1932 Fib Fan on SPX appears to be acting as support, whereas a few months back it was resistance.

No comments:

Post a Comment

Insightful and Useful Comment!