IS PRICE READY TO RESUME DECLINE?

Perhaps a day such as today, where you see a 10.2% print on unemployment is somehow spun into a POSITIVE thing, the hands of the puppet must keep market together for that illusion to remain. I thought the trendline I drew labeled R for resistance is appropriate. I did not short today or go long, I wanted to see upper trendline tested agin, price did not quite rise enough to that, but I also felt it was OBVIOUS today the mkt would NOT roll over.

MISH's BLOG link here does great job breaking down the numbers.

We talked about the workweek staying at record low 33.0, now there is no better way to show any suggestion things are GETTING BETTER is pure BS, you would see it here.

As a trader one must NOT assume a 10.2% report = big mkt losses......I do think inevitable but timing has been thrown off course.

For me when I can draw a line of resistance or support, add that to my TA and MOMO indicators, that gives me clearest view.

You could say no selling response to THUR ramp, or no follow thru.

You can bet VOLUME continued its contraction, something seems broken...it's the FREE MARKET SYSTEM

Duratek