S&P 500 & Nasdaq Analysis and Trends

[market_watcher]

If we're finishing an A-B-C correction from the Friday low, we need to retrace some or all of that correction. I anticipate that will mean we break the uptrend line from Friday and the next place that the bulls will try to take a stand if that line breaks is today's low.

That float analysis indicator I mentioned over at aj's thread also makes me think this is a distributive rally, also supported by the high TRINQ.

Basically, a bunch of things saying we go down and fewer things saying we go up, in the very short term.