Monday, September 19, 2011

Wild Swings Today

But nothing changed in todays chart's formation.  Bear Flag still in effect.  Market tanked in the AM on "feelings" that the weekend did not produce a solution for Greece.  Then tossed off some of the loss on the word that talks are still in the air.  It's all inuendo and BS.  Volume down today, but it was a Monday after all.  And note this, there is a divergence of the QQQ.  Seems the NASDAQ is making a move to the upside and has broken the 50 SMA on the daily, 3 day and weekly charts.  And the Nasdaq is usually the first  to rally.  Sooooooo, we shall see.  Right now it's Bears 2 (SPY and DIA) Bulls 1 (QQQ)

No change in the Trends, no reason to post anothet chart.

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