Days like today that start strong and finish weak are not particularly good for sentiment or the technicals. Especially, coming as it did when the market is so extended after its nice move up in July.

Dow Jones Intraday

Nasdaq False Breakout — the "Bull Trap"


That may set us up for a little softness for the next few weeks.

There’s lots of support near 2100 — if we see that level (or anywhere close), I’m a buyer, looking for the last leg up of this cyclical bull run.

Category: Technical Analysis, Trading

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Intraday Reversal”

  1. Bobby says:

    Actually the S&P bounced 6 points into the close. A good sign of strength. More likely is that the market goes sideways for a couple of weeks. Historically its too early for a selloff. Sell implied volatlity until the cows come home after labor day.