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 683.38

+0.1%

Nov 12 4:00 PM EST

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To: GROUND ZERO™ who wrote (36246)	8/10/2012 7:08:40 PM
From: FCom777	3 Recommendations Read Replies (3) of 218726

I'll personally be interested to see how this signal turns out. My read is a bit different for what it is worth. Had the market pushed higher today on some decent volume I might feel differently - but since it just lingered in limbo land so long this week - my sense is that it is more likely that S&P moves lower on Monday. Think a gap up Monday morning would seal the deal ... I smell distribution ... The extended duration of the congestion phase up here tells me that a top of some significance could be in the works. Had the market moved lower on queue a couple days ago, I would have thought for sure the down move would have been corrective and higher prices later on could have been in store. Now I'm thinking a move down could be impulsive and move us substantially lower. Funny how a couple extra days of congestion trading can change ones outlook. Probably all imagination ... but will be interested to see how this plays out.

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