Replies to post #43975 on Traders Cooperative

[ItsAllCyclical]

Rally on IKE being less than expected? Rally on Fed expectations? Rally into options expiration? Rally on LEH getting bought out?

All BS reasons over an IT period, but this market is so momentum driven doesn't seem to matter. I suscribe more to your view that the markets need to puke. However, gold is up big today and shares liking it even more. Reflation trade or just an IT/ST top in the Dollar? We've gone from pricing in 5 rate hikes back to neutral or even a cut next year.

[letmrun]

They acted in similar fashion yesterday, though not as bearish, then they finally turned red only at the very end of that huge closing rally.
If you figure out why such a contrast please pass it on.
thanks.

[ajtj99]

Check the NYA weekly. Extremely high volume reversal off a low. Check out the daily charts and you'll see what plexxus calls "bullish handles" (long tails on daily candles in an uptrend).

[letmrun]

Well I guess we have our answer. I knew that high reading was
way out of character. The .vix was trying to tell us something.