Am I the only noticing this as of late?? Market churning higher on weaker volume.. big sellers coming into knock prices lower on the futures?? Semis come out with great news.. the rally is faded? Good news is getting sold into? Most stocks are starting to break down and there is no real leadership in this market?? The tape is telling me that the market does not want to go higher in the coming days?? Seems to me as if we are in a different kind fo market. The tape is changing. What do u guys think? Please tape readers or traders reply... --MIKE
No argument here. What you state seems true. My only point is to let the #*&$@! market show its hand first and then take a position. Otherwise you'll be picking your own pockets.
According to my stats.. 60% of tradable stocks are above their 20ma.. but the ES and YM making new highs. I think theres a clear divergence.
Probably not today though ..... It would be nice if that economist cited in your signature knew how to predict his assertion - after the fact it can be identified.
How about the Homebuilders, the Brokerage stocks, the Banks, ( 10-Year T-Bond at 4.05% ) Biotech, Drugs, Paper, Steel, Defense Contractors, etc. Plenty of Leadership.