Monday, February 22, 2010
Inside Day
Volatility is shrinking and we got a narrow range intraday. This seems to be more bullish than bearish. The market is not letting longs in unless they pay up above 1100. I don't want to press it on the short side yet, it seems like there is an underlying bid just like 2009. Maybe a bit weaker than last year, but its still there.
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Looks like the bears are finally showing up. 3 red candlesticks at the Hang Seng, DAX, & SPX on Monday. So far Monday evening, Japan & Hang Seng may have more red candlesticks. It's about time the bulls retreated. -Petsamo
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