A fiscal cliff panic move came right before the weekend.
You have to remember 2 things.
1) We are still not out of holiday reversal time, the smart money is out of the market. These guys are hiding with their mistresses in the hamptons and will be back in a few days.
2) The last week we have gone down a bit, but it has been on very low volume. So I am skeptical.
Have a look at the fiscal cliff panic headlines they are writing all over CNBC. LOL.
 |
| fiscal cliff panic |
No matter what they keeps saying or doing in the media, the smart money is not back in the market right now. The indicators and charts are still saying this move is not the true move.
The breadth and indicators have still not been thrown off and now have good room to move now. As said, the bears might be happy, but the charts with only low volume on this move down are saying do not fall in love with the downside.
 |
| fiscal cliff panic |
WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED? CLICK HERE To Join Our VIP ELITE GROUP -- FREE 10 Day Trial Offer Today!
No comments:
Post a Comment