Exactly, but what does it mean? Uncertainty? As I pointed out in my cycle trend update #msg-3253664 (if interested in my thoughts) we now know that heavy accumulation occured in mid May and we now have the high P/C ratio which seems to signify (to me anyway) a lot of hedging to protect those bets... I could be wrong, but last Friday's rally (and the week for that matter) appears highly suspect.
Was Friday's gap open a short covering rally and if so were da boyz distributing into it? I believe we have been seeing distribution the last couple of weeks, but again, I certainly could be wrong. With prevalent program trading, skewed indicators and broker recommendations to sell options, who knows what is really going on. With that said, the new run on lackluster volume and the these odd divergences has me believing that there is not much fuel left in the tank for this current run. There is also a ton of resistance between here and 2153 and for us to form a new bottom here and power higher through the highs set in January at this window in time would certainly surprise me. But hey, anything can happen....
News 
Market Data 
Discover 
AI
