Thursday, May 20, 2010


Stocks ended on the lows of the day, never a great sign. After ONLY being down 175 the Dow quickly gave up 200 more into close.

Here's the tape:

DOW 200 EMA (exponential Moving avg) 10,263 (support or was)
May reaction lows 9,869 CLOSE 10,068 loss of 4%

SPX 200 EMA 1102, May lows 1065, CLOSE 1071 off 3.9%

TRANSPORTS 200 EMA 4116, May lows 4169, CLOSE 4160 OFF 4.9%

NAZ 200 EMA 2223, May lows 2185, Close 2204

CHINA IMHO in confirmed bear market.
GS IMHO in confirmed bear mkt.

What is wrong? What is right?

My guess ANOTHER 90% down volume day. Hard to pull the buy trigger with action like this, just the way they like it.


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