Thursday, February 10, 2011

There's obviously something not right with the market

Late last night the fact there was the ramp into the afternoon with no accumulation and open volume spikes tells me someone was trying to fight the market, this morning the market is back to where we expected from Tuesday's macro-intermediate view of the market.

They say don't fight the Fed, there is however one entity that does fight the Fed and consistently wins and that's the market. I'll let you know about any developments ASAP.

There are 1 min minor positive divergences off the 10:00 retest, but this is early morning  activity and if the market expected the volume and cash pumped into the market to hold it up, then there's institutional positions at a loss on the gap and they'll try to fill it.

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