Wednesday, July 11, 2012

And There's the intraday bear trap mentioned

I warned this was a good possibility...

The bear flag that set up intraday gave price confirmation, volume went up as shorts entered on price confirmation, the trap was set. Now the SPY is above the levels I said to watch out for as they would create an intraday short squeeze of the new shorts, look at volume on the move up.

The market taking advantage of technical traders' predictability once again.

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