Wednesday, December 21, 2011

Market Update

Earlier I suspected we'd get an intraday bounce, we have... it may be about to run out of steam.

 The SPY on this intraday chart has hit resistance several times, normally that wouldn't deter me from saying, watch out for a head fake above resistance, which could still happen, but....

 The Euro in red compared to the SPY in green is starting to fall apart.

And we have some initial signs on the 1 min 3C chart of the SPY that are looking a little bearish.

I'm going to check credit.

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