Monday, July 2, 2012

Volume suggests its close to over.

Volume looks peak or close.
Being a holiday week we could get very volatile . The vix is as low as the last peak or a good time to get short.
I'm not calling this an oversold rally but a momentum rally. We were OS at 2:30 Thursday once the momentum kicked in the HFT computers kicked in, short covering kicked in so the rally was feed by cash and momentum kept the rally going into Friday OB close.
I just hope we get a short setup Monday intraday.
This rally could be history.
Jerry O

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