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Strategies & Market Trends : Classic TA Workplace

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From: Shack	3/28/2008 7:27:35 PM
	Read Replies (2) of 209892

Weekly pop in. Most of these bearish wedges I've been watching are playing out, and nicely. But even more worrisome is the action on the financials yet again. Look at the the last 3 days of trading on the likes of WB, BAC, AXP, etc.. These are coming off hard and on volume. Unless this is one hell of a scary wave (2) then the overall market is going nowhere but down or at best sideways and that's only if the rest of the market can hold it together. Retailers? Looks like an abrupt halt to that C up with four hard high volume down days. These two sectors look like impulsive down (duh!-vbg) Tech held it together better but wedge breakdowns in the likes of ORCL, AMZN, AMAT negated these oversold bounces in the likes of AAPL, BIDU and the rest of the once proud momos. Still looks like the bear has a hold of the market. The weirdest thing this week IMO is the absolute lack of movement in the $VIX. Hell we closed the week at the lows ofter a steady downtrend for 5 days and the $VIX finished the week near the lows too?? Where's was the fear?? Nobody paying up for premium all of a sudden? Strange.

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