- DJIA again got hit from earnings..this time its 3m...and of course shows market weaker than it actually was
- day started weak and got strong, but then fell apart at the close, this is bearish
- but market is still holding up well despite reasons to selloff....think optimism is high because traders feel that this debt ceiling this is overblown and when its resolved, market will rally...but of course, if so many people believe this, its not a bad idea to bet against it
- tech was the leader
- steel stocks dropped like crazy...AKS down 17% after earnings, X down 8%
market strong, then selloff at the close...dow weaker, VIX and SPX charts showing weakness, but pulse of the market is still quite bullish with just a reserved pullback currently...again, i feel that its risky to go long or short...hate feeling this cautious but the market is not acting right...with 1 huge news piece looming over our heads, its just risky....and charts aren't confirming in any directions....so far, only confirmed moves are earnings surprises...outside of that, i was not even tempted to go long or short....
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