Friday, July 23, 2010
Break Out?
I would say no but tomorrow is important. Today was another confusing day. We lept above the trendline at the open and than just stopped. No real follow through. No volume. Today was like watching paint dry. Seemed very odd. Would not be surprised at this point if we broke back down or if started moving dramatically higher. In otherwords, I didn't feel like anything was really resolved today which is very counter to how I thought it would be when the stock market opened.
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4 comments:
Stress test should be considered as "Suicide test". They have to pass.
Media hype will guarantee that markets won't react to this news while giving algos a chance to achieve "fake breakout" now and crash later.
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