Psychology—
Market psychology Steve, look back at my post analyzing market post cut, how did I know that market will move up 100 points and come back, this is market psychology, bring the best of the world intellectuals and the best of economists it all boils down to the locals in Chicago, these guys are unbeatable, I will repeat they too single handedly LTC out of business , just kept these yields moving higher higher and higher what was considered as unachieveable level or unbreachable level of 131 was taken out big time to 135, they try to make pain unbearable and that is exactly what happens when people go long at 1157 we knew it and I posted it exactly, market calling with this precision is only possible with thinking like a local think them think if you want to make money you will see which side herd will go that side as was expected after rate cut herd followed expecting that big 330 point run, they got everyone long and brought it down to unchanged to stop them out, I will like them to do it and flash out pocket of resistances at 1128 area, now these market manipulations can be read the way people want and they can define it the way they like but the fact remains the movement which is least expected is the movement of the 'sensible' and rest every thing else are followers...so never follow do the opposite don't follow the herd is how I play these markets, I really don't think their is much into it as I had pointed earlier the course, normal movement, look at the underlying currents look at composite it was solidly up and remained their, it could not be manipulated like wise NDX was up 20 and change again not a very liquid market it was SPZ which was all over the places, I had forecasted in my post that only DOW will slip we will see NDX at 1500 that exactly what happened, why is NDX trying to take out 1500 - these are top 100 composite stocks and have broken new highs and going strong it only tells me that things are OK, as I have said earlier that one needs to be careful of any situation making new highs..
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