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Saturday, November 22, 2008 6:27:12 AM
closed down 8 pts. at the close, looked like some sell program, which was instituted at 800 SPX. So the finish in the SPX wasn't impressive, the QQQQ participants like AAPL, Google, Rimm with the 2 buck up days sure didn't look like they were convinced either. Noticed that the Oil stocks like XOM,SLB, COP all got back to their recent consolidation/resistance areas. So financials are weak at best, Tech is unimpressive, energy stocks are back to consolidation levels, end of day futures sold off. On Big charts there is a huge end of day spike down to 25.50 at 4:15 on the QQQQ. I do think it is interesting that everyone thinks the bear market is over with one up day. We are on a hold short signal across the board, so all rallies should be sold into, until we have better technicals.
Buy 'em when they are crying, sell them when they are yellin'
More charts
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID456385
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