They don't have the money to support it with high volume. They only have the power in the pre-market now, as it still has light volume. That's how yesterday's rally happened. They juiced the pre-market will PPT money, and then the just let the short covering fuel the rest of the rally during market hours.
The 20ema is now at 1092.58 spx, and it is the likely target for todays' high. We are still very overbought and should rollover into the close today. How far down is unknown, as it could be just a few points only… but I don't think it will close positive today, nor get past that 20ema around 1093.
Doubt it Monica,
They don't have the money to support it with high volume. They only have the power in the pre-market now, as it still has light volume. That's how yesterday's rally happened. They juiced the pre-market will PPT money, and then the just let the short covering fuel the rest of the rally during market hours.
Thanks San…
Also, look at the 15 minute chart of the SPX and the Dow. They both now have a rising wedge forming.
So we all know that the 1040 number is the line in the sand and once it's crossed, we plunge. But, can't the forces that be keep it up at that level?
Dow jones hidden negative divergence
http://niftychartsandpatterns.blogspot.com/2010…
Thanks Red.
ALRIGHT ALL, why don't we turn off our screens and ignore this for a little while, shall we?
6'0″
yes, and in pain.
The 20ema is now at 1092.58 spx, and it is the likely target for todays' high. We are still very overbought and should rollover into the close today. How far down is unknown, as it could be just a few points only… but I don't think it will close positive today, nor get past that 20ema around 1093.
ugh. Are you short?
If only they where still pointing down.