Seems the market wants to rally but everytime there is a little move higher sellers move right in, which is going to be the case I think for quite sometime. Most have probably sold, but people adding new positions on days like we had yesterday will take any chance they get to sell into the smallest rallies, the psychology of this market has changed completely over the last few weeks. The trend is down as of now and until this market can show signs of stabalization every single rally will be SOLD.
How do you know people are looking to sell into the rally? Perhaps it's just folks covering who shouldn't have gone long in the first place?
This is a bear market for the 1000th time, anyone and everyone will be selling into any rally we have, the market is not going to new highs anytime soon, I give it another 10 years before the DOW makes a run to 14k, if anyone thinks this market is going to change course and head higher and that the economy is going to be growing at least 2% is a fool. We are going to have significant job losses, unemployment rates going into the double digits, GDP GROWTH will be ZERO, we will see NEGATIVE GDP growth and a bear market for years to come.