Very bearish reversal at highs. Looks like that choppy rise was just enough to catch a few suckers and now they are booking profits. One would be a fool to not start cashing those chips. NDX is back below 1800 and if that R holds, we will get the 10 DMA test shortly. Still the big retail numbers tomorrow, so trail those stops. The VIX hit a low of 9.91 and that seems to have triggered some pretty heavy sell programs. This distribution is getting to be a daily affair.
This entry was posted
on Monday, November 20, 2006 at 11/20/2006 02:33:00 PM.
You can skip to the end and leave a response.
» Post a Comment