No confidence

Heavy Distribution Tuesday

Heavy Distribution Tuesday

Heavy selling on the day of the economic stimulus package being signed into effect doesn’t seem to bode well for the market.

But despite some Technology names showing some subltle signs of a willingness to rally lately, we’ve long recognized down as the dominant trend.

As long as the major indexes trade below their major moving averages we’re going to be suspicious of any reasons to be long.

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: