Wednesday, May 26, 2010

Todays bounce

Todays bounce is pretty pathetic. This is nicely burning off the oversold situation setting up a new leg down. Yesterday also gave a bullish divergence on the McClellan Oscillator, however the MO is heading for a down trendline and unless it breaks thru, this romp to the downside is just beginning. Too many bears are looking for the this bounce and the market seems to try and make as many people wrong as it can. I also think the 1040 support was too predictable. Some sort of surprise is coming..

No comments:

Post a Comment