Discussion in 'Wall St. News' started by jsimmons, Jun 15, 2005.
Any news come out that's turning the markets down from their gap up this morning ? Oil ??
Dollar is weaker for the first time in six days.
We've been in this cotton pickin' range for what? A month or so. Yuck. We need a nice big trend day to mow down the new crop of doubledowners.
On one hand, this range up here could signal the end of the bullish correction in the longer term bear market. On the other hand, we might be building a base for a breakout. Seems hard to imagine that we'd breakout in the face of rising fed rates (even if the interest rates haven't started going up yet).
But who knows. I started the day with a long, and was soon shorting away. You can't enter these markets with some idea about the future written in stone.
Dont think QQQQ & semisector have turned around , mostly bearish short term, however SPY still looks and measures uptrendy on most all measures.
Another sign of strength in uptrending SPY ,gap ups close up ;
DIA looks like mostly sideways trend or range like GE.
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