The bulls tried hard to re-capture the tape, like on Day 1, but then on Day 2 they got cleaned out in the last hour as on the next following 3 days. They tried it again but although they entered into the days with opening gaps (thx to the miracle action in the futures market overnight that has propelled the market so many times since March and usually tended to stick...and laid the ground for another good day....) they got taken out to the cleaners again come 2:30-3:00pm (New York). Even positive action in Asia or Europe got just killed the last hour.
And then there was last Friday, "fantastic GDP" numbers and the again even on good news the market could NOT hold the early gains. If this were all because of Greece or news why didn't the market stay up until 11:00am ??? No, No.... this is all about FLOW, Liquidity, Profit Targets, Technicals and the fact that nobody wants to stay too long in an "overstayed, pale, long in the tooth" rally....
Let's see how this story continues.......
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