Tuesday, March 17, 2009
if there is one of the strongest mid day-reversals we have seen in a LONG long time. (up/flat.....to.......down)
lots seem to be hoping for miracle news from FOMC, they "better" deliver, b/c its seems priced in by the bulls to me.
Focm has a strong history of being a rally into....sell off after for the longest. If the first "impulse" is bearish AFTER, its going to last a while.
We remain in a bear market, till (imo) the rsi resistance line that has been there this ENTIRE bear....is broken.
Posted by Erik at 6:47 PM