FinancialAdvisor's College Class (FACC)

[FinancialAdvisor]

*xe, My thoughts on today's low-volume profit-taking... I would contribute a lot of it to uncertainty in the markets... bulls are getting unsure of where to throw their money at here and oil had a rise today after oil inventories came in down which the market wasn't expecting thus shooting oil above $50, so that created a bit of selling in the markets...



I still do believe a top is near, or in this general area. Case in point, if we use the Q's chart as a proxy and go back to the 2 sessions before the January 3rd initial spike and then decline, we had two low volume down days on the 30th and 31st of December.



Other things I'm looking at, Intel (INTC) is going to close up for the 11th session in a row today, that is almost unheard of, if I have time, I might look into that streak and see when it happened last, or if it's ever happened before.



I was also watching GOOG into the close, and it had a nice rebound into the close after being red much of the day and it'll close green, albeit on lower volume then the past 2 sessions which were also up.



And perhaps as far as a top in the Nasdaq goes, it may be remniscient of what did happen on January 3rd, we could get an intraday spike before declining strongly and drawing in volume, and it would likely be a spike in the 1st half of the markets and some time soon. I'm also thinking that the market may want to fill the gap in AAPL before it tops.



I certainly think we're close, and there's lots of key economic data on the horizon to squeeze the last bit of mania out of the markets and/or begin to roll it over and draw in selling volume...