% of stocks above or below the 50 bar moving average
Negative divergence
Here's a bigger bear flag that formed, note the break down and the volume. More market maker games.
Monday, September 27, 2010
Another Bear Flag Gamed and Breadth
Breadth today has been worse then I've seen it recently.
% of Stocks at new highs
The A/D line breaking down
3 comments:
It would seem that all we are interested in is churning shares. What does the bigger pictures say by 3c on 5min and longer time frames. It concerns me that we have limited opportunities to go down with the FED POMO program. Tomorrow we have GDP and a FED POMO program. Thursday we have initial claims and a FED POMO program. They are timing on bad reports to keep the market afloat in my opinion.
The big picture is still negative. 5 min charts are tracking price with no divergences, but are much lower then they should be if it were confirmation, so they are in a leading negative position. The longer are all in positions that in the past have put in enough time, meaning they don't need to go further down, there's a solid signal there that's negative on the market. However as you understand 3C can't divine how many shares, what catalyst, etc.
On Zero Hedge there was a European CNBC interview about POMO, it was excellent. I'd recommend watching it. And from what the guy says, you just look at AAPL's daily and you can see he's right.
feels like high level consolidation to me
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