Wednesday, October 12, 2011

Price action

This last swing down was greater than the previous swing up, which suggests we could see some more weakness into the close here. 1205 is my short term line in the sand, as that seemed to be a key pivot earlier and we got a nice reaction off of it.

Breadth is still +1700 so it's very tough to "close your eyes and short" here, thats for sure.

I keep thinking back to Monday where we got a late dipsy doo and it led to a melt up into the last half hour.

Let's see what happens as we move into 3:30

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