Quarter's end

We discussed the selling late yesterday and the reasoning, the quarter ends March 30, which is tomorrow. The divergences I look for in a reversal are there and deep, there hasn't been anything positive to back up today's move up which isn't much, but it's not down. So thinking about it, it does make some sense, the funds who are more afraid now then ever about redemptions have to show the greatest possible performance. Yesterday it looked very much like they were positioning themselves for a downturn, however until quarters end, they need to keep their returns as high as possible. Like I said, I'm not seeing anything that suggests the reversal isn't on track, however a short term manipulation of the market of a day or two isn't that hard. It's not anything written in stone, just a passing thought.

As hard evidence of confirmation of the thought or evidence showing it was nothing more then a passing thought, comes in, I'll be posting it. Right now the market is trading in confirmation so there's not much to report as of yet, except that the divergences we look for in  reversal are still very much there and they are very deep.