Monday, June 7, 2010

Bearish Action

After the drubbing that the market took Friday, we should have rebounded at least a bit today but the attempt was weak and now we are nearing intraday lows.  The price action is bearish.  Now it is a matter of when, not if we go down to 1040.  Only thing preventing me from calling a close near the lows is all the bears on Fast Money Halftime.  But at this point, sentiment is not negative enough in the face of such a strong downtrend.

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