Wednesday, May 19, 2010
Intraday Weakness
The market is coming back from the abyss in afterhours again. The volatility in afterhours is off the charts and the fear is starting to percolate. I don't think we're there yet, the bottom. We probably need to touch base between 1090-1100 before we can go higher. I think this market has one last whoosh left it in. I expect us to get back down today and fill the gap left on Friday May 07 at 1107.
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1 comment:
I think we're oversold. If we do bounce I think 1150 is doable. I hope we at least bounce a little before making lower highs and lows. This is a staircase pattern down.
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