- GLD continues to rise
- after the bell IBM again beats expectations and rises after hours
- again, stocks slide intraday but able to stay off lows by eod
- news is same stuff....europe bank crisis
- financials by far the weakest sector...
- SPY breaks down in 30min chart and at EOD, is hugging that breakdown level...
- some oversold levels seen in NYMO
- many banks + financial big names report earnings tomorrow
Market keeps trying to show strength and that does scare me as i am holding a put position but nothing really bullish yet overall....we still have lower lows and as we broke down more today and was unable to capitalize on any of the strong earnings yet and keep having weak intraday actions despite some promising eod relief rallies, i think its definitely better to stay bearish and leave some room as we are more likely to go lower from here, especially the financials....what does worry me most is how financials report tomorrow and since they have been so battered lately, expectations are so low that any kind of upbeat surprise will make the market surge which is horrible for my position
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