Consolidation... either the market is digesting gains or.... waiting for some signal.
many of the other indexes look better than the spx.
I was trying to draw some .... pattern to the pattern this evening, and couldn't . I suspect it's a personal failing.
Healthy is a slow up move, and not these ridiculous Violent 30 minute 150 pt reversals... but to say it's unhealthy... doesn't mean we can't move higher.
and....
it's the last day of the month, which is naturally bullish. Then there is the friday effect...
now we did see an upmove most of last friday in anticipation of a closing rally and it failed last week... One could think there would be a repeat performance.
Friday, May 29, 2009
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Sentiment alert:
Your boy, Jack Perugian, pissing his pants this morning about "valuation" of stocks, "printing" money, and how the whole thing is going to fall apart. "Where is the end-game, where are the jobs?"
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