Thursday, January 21, 2010

Oblivious

The S&P is currently ignoring the world markets.  China is weakening, Europe is lagging, the dollar is strengthening, and commodities are lagging.  Yesterday was a V-shaped day, another strong second half of the day.  One of these days, the close will be nasty, but the market is not ready yet.  I think the first half of the day will be up, and may enter a small long position near the open.  The reaction to earnings so far has been negative.  They have failed to ignite a big rally and have mostly been sell the news.  Looks like they won't matter much going forward, it is all about the technicals.  And there is a brick wall around 1130 on the S&P. 

3 comments:

Anonymous said...

WTF happened dawg???

I was driving to work and the mkt was flat, now it's down over 1%?

Are we gonna bounce here or is the trend broken. I just got here but I want to cover my shorts if we bounce.

Anonymous said...

Where are you getting long I know you're gonna get long...

Anonymous said...

sold 1/2 EDZ @ 5.11

OL DAWG