The ditribution keeps going on. NQ hits a brief higher high and they sold it. SOX, banking and retail are all down. Don't count the bulls out if oil drops, but it's looking pretty tired. VIX hit a low of 9.89. Equity pc ratio rising a little from yesterday and that is bearish, since we hit lows of .47 Friday.
Volume is very light, so most of the upside is coming from retail traders betting on a holiday rally. I still think institutions are selling rallies in a quiet way so as not to spook the markets. Like a poker raise with a good hand.
Volume is very light, so most of the upside is coming from retail traders betting on a holiday rally. I still think institutions are selling rallies in a quiet way so as not to spook the markets. Like a poker raise with a good hand.
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on Tuesday, November 21, 2006 at 11/21/2006 10:29:00 AM.
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