Thursday, September 4, 2008

Fall la la

This market is in trouble and looks like it is starting to freefall lower.

The MCO, 10% components and SUM index shifted to the sell side today.

The daily SPX MACD is breaking down from the neutral area, and the 60 min MACD show nasty downside momentum as well.

Indexes closed below the lower 20 day 2stdev Bollinger band, the indexes need to bounce tomorrow or a crash lies ahead.
The downside looks like it could be about 70 to 100 SPX points lower from here.

Smells like forced liquidation, no need to be a hero.

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