enigma...
if only for your sobriquet,
i offer an observation, for what it's worth.
to the extent there are artificials propping
an increasingly ennervated crowd of yah yah buyers a la earthwebtomajortomtomclub "how high can we go before we have to look down" contingent, the new highs offer a shadow of a
foundation if you will.
in other words, even the internut for lunch bunch has its limits.
ok....today the balm of gilead was the oil sector. if you noticed the
lack of tick reality of the last few days, eg...we might see the indu
at +30 and the tick at -300 ( i can't recall the specifics but bear me out here) it would stand to reason a small select few were to account for
any upticks.
as the days wore on, selling increased dramatically after 3:30-3:45pm...at that point it would seem the puppeteers saw fit to jump ship. their job was done, and another day, another dollar.
i think the purple haze might represent the reality of how hollow
the "technical breakout rally" would truly read but for the few pockets
of strength which have allowed the market to withstand a negative
1100 tick with impunity.
with each intraday wave, the tick/indu became more realistically joined
and had we seen the negative four digit tick at close, we also would have seen a 100-300 drop in the dow. ( conservatively)
sooooo,
the purple, simply stated, strikes me as an unadulterated mirror image,
the beast within. i feel it is profoundly negative. and what do i know?
i know what i see. will it be a profitable observation?
we'll see. but i am betting down....
|
