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Suspect
December 4th, 2008 at 12:36pm · 1 Comment
The ability for stocks to hold onto these mid-week gains is suspect. The 135 minute chart shows the deteriration in the tick cycle-trap that has occurred during past three days ostensible ‘rally.’ I’m not overly bearish here, but the technical underpinnings don’t look like they can support a move above 900 soon.
Tags: General Market Commentary · S&P 500
1 response so far ↓
1 Aronny // Dec 4, 2008 at 3:26 pm
Also note the declining volume as compare to the week before the holiday.
Am I mistaken that your chart of the eMini includes only normal market hours? If that is so, what is the difference from the cash S&P?
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