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.
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.
WTF happened dawg???
ReplyDeleteI 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.
Where are you getting long I know you're gonna get long...
ReplyDeletesold 1/2 EDZ @ 5.11
ReplyDeleteOL DAWG