Fitch Rumor Used Strategically?

The range I talked about early in the week that needed to be in place for a reversal with a chance of any sustainability beyond a day bounce has done exactly that and through the intraday and day to day volatility, has indeed formed exactly the kind of range I was trying to describe.

As for a head fake move because in my opinion, the range is about the right size now, there's a rumor from earlier that is being blamed for the market sliding from the opening highs, that rumor is that FITCH will downgrade the US from AAA, this however is highly doubtful as we are 2 weeks before a Presidential election and Fitch themselves said any downgrade wouldn't come until 2013, but it's a rumor that works and does what needs to be done if we in fact confirm this as a head fake move which I think we will as everything else has developed exactly as planned since we saw the first positive divergences on Op-Ex Friday around 2 p.m.

As for the divergences, we continue to move in the right direction.