Monday, April 11, 2011
Oil Down, Budget Deal
Why are we only up 1 point in the futures, well off the overnight highs? Oil is down over a $1, no government shutdown, all good news right? I can't explain it except that this market is exhausted on the upside and wants to pullback here. Often times the strongest moves are the ones that no one expects. Expecting weakness today.
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2 comments:
I think people have gotten so used to moves fading that they are selling early, which combines with strong seasonality means we probably climb.
It looks just range bound to me. This market hasn't shaken out anything. If we go higher this week, it probably will be the final move of this uptrend. If we go lower, it complicates the picture and probably forestalls the top by a week.
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