Still A Dodgy Market

Nice rally Thursday – but hardly the sign of institutional support we’ve been on the lookout for.

We’d like to see heavier buy-volume, otherwise known as accumulation, accompany one of the indexes for a 2% gain to shift our bias from Sell to Buy.

Such support would have especially been endearing today in light of the proposed resolution to Greece’s bond default issues. Lots of folks still worried out there…

If institutional support doesn’t show up in the next week or so we’re going to continue calling this market dodgy.

Advertisements

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: