What I saw today the first rally attempt was sold off at 10 the second rally attempt was sold off at 11. Nobody was going to buy on dip. And in the last 15 minutes that attempt to close green was sold off quickly and easily. So what I see the market clears wants to take a breath but someone put his hand on the market throat.
Well, this is the market in action...! Two people drawing two different conclusions from the same set of data. I do not make predictions. What I see is that the trend is up, and that, with major indices close to new highs, one would expect a bigger sell-off with bad news. Actually, Nasdaq is slightly up and the S&P unchanged. The bears have to be disapointed.
Agreed. The put/call ratio on the DOW hit its highest level this past week, higher than at any other point in this rally thus far or this year. SPX ratio is also starting to spike to high level on the range. NAS remains at low levels. Definitely not an over bullish tone to this market. No irrational exuberance yet.
this will be the test of election theory!! market is down 1/3%....this has typically been where buying picks up...its 10.22 see what happens.... oil catching a bid too in a strange turn of events...
Agreed..... market should be very green on the csco news considering lately it hasnt taken ANY news to run it up..... markets have even been running on bad news... if good earnings from csco cant keep the market green... might mean bulls are running out of powder..... Next 30 min will tell the tale... if they are going to do it they will try to make the day's trend change within next 30 min... if they fail could be a signal of things to come....