So far the price action is in the expected range the 1170 have stopped the upside move and the HFT traders seem to have still wet panties as they can not keep up the market with low volume. The case for a drop is getting set up for next week - only 2 things are a bit puzzling yet the low volume and the low ISEE around 100. Tomorrow we can expect another test to the upside but overall the next leg down is about to start next week and the following month.
Thursday, May 13, 2010
SPX update
So far the price action is in the expected range the 1170 have stopped the upside move and the HFT traders seem to have still wet panties as they can not keep up the market with low volume. The case for a drop is getting set up for next week - only 2 things are a bit puzzling yet the low volume and the low ISEE around 100. Tomorrow we can expect another test to the upside but overall the next leg down is about to start next week and the following month.
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