Friday, September 11, 2009
50 points off the low from last week...
50 points exactly off the low from last week, this happened a few weeks back but was 55 points from the low.
Possibility they take out stops above 1044 alot of money is sitting there, they want to suck this money in before going back down... its only smart to do this if your a criminal. (It should happen intraday, if it does.)
So a pop above 1044 is possible but will be short lived, it will be to fill in any long orders that are waiting up there, before they take it down.
50 points exactly, another 5 points gives us 1050 S&P.... now check this out we had 5 days upward on the last rally a few weeks back, then we had 5 days down. This recent rally we have had 5 days up as of yesterday. There is also 1-2 transition days between each move (distribution for the big boys).
Correlation or pure coincidence? Doubtful money managers are playing the low volume to their advantage, wait until volume comes back and see how fast we drop like a rock....