Wednesday, November 18, 2009

Today's Market

Yes, the SPYs are rallying. BUT

A.) Notice that prices have not been able to get above 111.50. Also note the candles are getting smaller. And

B.) There is low volume. If people are so excited about this market then they should be stampeding into the market, thereby increasing volume.

And if the market is so strong, why aren't the Transports confirming the rally?

A.) Or the microcaps -- which are still hitting resistance at the EMAs.

This is not a broad rally which is very disconcerting.