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Tuesday, September 21, 2010

Tuesday after the close!!!

After the close, The SPX played dead for the most part of the day, then after the FOMC report was released things started jumping around, most notably in treasuries and the dollar, while the SPX did make a higher high, it was short-lived and sold-off into the close. The Trend finder did kick in a buy signal that only lasted for around a hour, before moving back to neutral.
Over-all the short-term trend remains bullish until the SPX can start making lower lows.
Breadth closed at 1.78:1, decliners, not very exciting!!!
We are still stuck in the same boat as yesterday, with conditions ripe for a sell-off, but yet no confirmation a top is in.

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