Saturday, December 12, 2009

Financials and S&P500 FLOW update

The Financials look very bearish. Keep in mind that the market can NOT rally for long without the financials!!!



The Spyder still seems undecided with a bearish bias on the large Traders side (Institutionals). We are clearly at a major resistance which can mean a consolidation towards the next level up or a rolling top. The next week will answer this question.
Pls don't forget that we are in the low volume holiday season where the "PLAYAS" at the prop desks can do whatever they like without too much institutional interference..... (see the orange small traders line creeping up which shows price moves accomplished with low Volume)



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