We're BACK!!! Stocks have momo? Rally again comes with volume receding. Rumors of big players coming in buying SPX futures just when it looked like the market would fall apart...fact or fiction?
Next week will be telling. The 200 EMA is right there.
The 50 is crashing down towards it, that also usually offers resistance. MOST trading not done by humans....what will the boxes do?
As Noland quantified:
"A semblance of stabilization returned to European debt markets this week, supporting a bounce in global equities. "
Cheer the hire of temp census workers, cheer the loss of benefits(drop in continuing claims) as proof the economy is expanding....what a crazy world we live in!
JUST since April we have had 12 90% VOLUME DAYS!!! 8 downers, 4 uppers. This is unprecedented action.
There is some indication, a bottom of some kind is in place, at least we have our parameters set. IT doesn't matter whether I like the economic backdrop or not. BUT there are also techical warning signs that the decline will resume shortly. I mean if a bottom is in, if this is BULLMKT WHY constsantly do we have MORE and expanding volume on the declines and LES decreasing volume on the rallies?
Hallmark of the market is to keep the majority guesssing.
D
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