Sunday, December 30, 2012

Traders Puke.

Bloomberg reports that once support failed that traders had to puke their accounts into a dead market. Is this tax selling or panic.
I don't know but my chart on the right tells a story of overbought and over
sold.
Sorry it's not clearer but forced to use dial up.
So on 12-18 the day of the high at 697.11 we then have gone almost straight down to my CIT line. The next 2 days was big drops. Here we are again
under the cit line will Monday offer a big drop?

BTW my spread sheet has a lower low in sight.
See what Monday offers.
Jerry

Look for the high of 2013 in the 2nd week of January.  6th to 9th !

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