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Strategies & Market Trends : General market lab and commentary -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (218)	2/29/2016 2:28:55 AM
From: Robohogs	Respond to of 668

I may post some graphics later but on commentary, this is it prior to trading day. I keep coming back to this but what I am noticing is that the character of this mkt has changed dramatically. This week along we had massive gap down with some follow through - oh no we broke down. Below support below 5 and 8 day. What next? Straight back up to high of move. Oh look, we are breaking out. What next? Steady move down. This move, like mkts before 2009-2015 is acting more normally, with lots of false moves and shake outs. That is why path higher is first lower. Think about it. Last week, mkt broke lower. Below supports. Shorts piled in. Wrong footed. Added fuel to upside fire. Think Friday, same thing in reverse. And at a major resistance. You have to believe shorts are piling in here. Overbought. Resistance held. La da da da. Down gets them more wrong-footed for an upthrust. That is why down then up. To get bigger movement, you need to panic shorts and longs who sold. Go look at October chart. It did dart down for 2-3 days. Turn-around Tuesday anyone? Jon