Friday, May 6, 2011

5/6 1:00

SPX and DJI are completing their first 5 down.

Yesterday I complained about a fly in my soup, that being the inability of DJ futures to confirm the break of DJI cash critical M/A.  The fly is still swimming around but will drown when DJ futures decline beneath 12,500, (blue line less .85%).  Currently DJ futures are at 12,627.


  1. Steve

    So what do you think of yesterdays down move and the up move after the job numbers? To me it just looked like a large player getting out of the way of the numbers then jumping back in after. So the sell off continues.

    Jack C

  2. In a corrective or bear market the jobs report, unless it really is a blowout number which this one was not, first sucks in retail buying, then flushes out shorts, then takes the longs out to the woodshed. The big traders take advantage of this herding mentality on the part of smaller traders.