Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: SGJ who wrote (28511)	1/19/2012 7:23:14 PM
From: chartseer	Read Replies (1) of 222732

Maybe but I am not sure yet. There is resistance above the TBT and below the TLT. The TLT did break below the 50DMA but the TBT is still .10 below its 50DMA. It is not unusual during a strong rally for people to sell their bonds to buy stocks. Market may be topping out though and then people may sell their stocks and buy back their bonds. Only time will tell. I would not be afraid to nibble some TBT but I would wait until after the weekend. But then that is me. Meanwhile the PnF charts didn't change at all. Then again what the heck do I know?

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