All of the primary indicators went bearish today; and based on the strength of the turn-around, it doesn't look like they'll go bullish on Monday unless there is a dramatic rally in the last hour.
What puzzles me is the lack of volume in today's trading. I was expecting a shootout, but there's been none so far. Unless they're saving their ammo for the last hour. Will have to wait and see.
While I was writing it looks like the bulls are making a move on good volume. But they have a lot of ground to cover to get back in the game.
New Update:
As of 3:20 PM EST, It looks like the bulls have no real fight in them. I speculate the bears are allowing the bulls a mild rally to reset the 15-minute and 30-minute stochastics, which are heavily oversold. Then about 15 minutes before close, the bears will make a final push to take the market down a notch so short term stochastics are set for further decline going into Monday. This pattern appears often. The question is, can the bears take the market down before close.
The bulls often rally between 3:40 and 3:45 EST before close each day before the bears jump in.
What puzzles me is the lack of volume in today's trading. I was expecting a shootout, but there's been none so far. Unless they're saving their ammo for the last hour. Will have to wait and see.
While I was writing it looks like the bulls are making a move on good volume. But they have a lot of ground to cover to get back in the game.
New Update:
As of 3:20 PM EST, It looks like the bulls have no real fight in them. I speculate the bears are allowing the bulls a mild rally to reset the 15-minute and 30-minute stochastics, which are heavily oversold. Then about 15 minutes before close, the bears will make a final push to take the market down a notch so short term stochastics are set for further decline going into Monday. This pattern appears often. The question is, can the bears take the market down before close.
The bulls often rally between 3:40 and 3:45 EST before close each day before the bears jump in.
"Put up a fight with a might so fearlessly"
ReplyDeleteDa Bears!
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