Thursday, August 25, 2011

Another HFT Day

Folks, do not let these machines get you off your game. Zoom out, take a little longer-than-a-day view, and exhale. We almost filled a 1194 SPX gap and got a strong rejection. Technicals worked and markets have spoken. Nothing changed, it is still a bear for now. If we start taking out these 1190 - 1200 levels, then you know more upside coming. Other than that, sell the rallies mentality continues.

On another development. It looks like dollar index is getting ready to break out to the upside. I do not want to overstate this development, but this is huge.

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