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