Yes, it looks like bulls got a taste of new highs and then we sold off into the close again. Tomorrow, the bulls will get another taste of new highs. The smart ones will take profits but the arrogant neophytes will be too busy posting silly comments on this site and will miss the opportunity....
The selling off is due to nervousness before a slew of numbers due out on thurs The higher the market goes (following its current trajectory) before the numbers are released the more likely they are to fail likewise the lower the market goes into the numbers the greater the dds the numbers will be deemed favorable. A middle ground is created form this.
And here we have the taste of new highs. The next time I post I expect it will be to update ya'll on what will be called the "Memorial Day Massacre of the Bulls"... What's interesting is that a top in the next couple of days would coincide nicely with the expected cycle low in treasuries.
I tip my hat to you in admiration for your steadfast conviction. I trust you will equally humble when this market turns....
This afternoon selloff will be BOUGHT. We will close at or near the highs. Everyone will be eurphoric and tomorrow they will get their heads handed to them on a silver platter.
No it probably wont we'll have to wait for the data tommorow before the market will trade with real conviction on either side
hmmmm....maybe i was wrong about the dip being bought....looks like the net buyers are weaker than i thought.... An early start to the Memorial Day Massacre of the bulls? I don't think so. My preferred scenario is for a bounce back into the close and for the selloff to start tomorrow.