Monday, July 26, 2010

Not a Top

This doesn't feel like an intermediate top, so I will likely not be playing on the short side for long.  The volume was quite light today, and it probably will take several more days of non-fearful action to form a top.  Remember, tops are usually processes, while bottoms are usually points.

1 comment:

Petsamo said...

The SPX finished slightly above its 200 day MA, while the SPY finished at its 200 day MA.