More on FB

First the SPY volume

First I should have noted this in the last post, we have seen it so many times I would call it a trend, a big spike in volume (on any timeframe) and a relatively bullish candle, often even without the candle, tends to lead to reversals, both up from a move down like this and down from a move up.

Why would FB be so important? Perception.

Mark Cuban said earlier that FB was the most important IPO in history because, it brings retail back to the market.

Retail has been flocking out of the market for over a year in huge numbers and nearly every week.

Whether Cuban is right or not doesn't really matter, if the market believes what Cuban believes, that's all that matters, sentiment is what moves the market.