Tuesday, March 17, 2009

Scanning Thru Several Charts: One Major Problem For The Bulls

I cannot help but notice the lack of volume in today's move(the entire move up for that matter). Short squeeze and not real buying imo. Doesn't mean that it cannot drift higher but if these lower volume rallies starts to become a trend, then surely the bears will get aggressive again.

1 comment:

Cliffynator said...

We needed a day to flush out (squeeze) the bears before the real move. It's like you said on Monday, there was too much consensus among the bloggers for a shorting day today. So it wasn't going to happen.
However, I think the new Administration is rippling the charted waters merely by speaking. That and Options Expiry Friday are influencing this week's chop (IMO). What the heck do options expiring have to do with market trends, anyway?
Then again, my opinion is biased ("yay, FAZ!" said the rookie).

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