Wednesday, June 30, 2010

Delayed by Bulls

I thought the bottom would happen today but unless we fall apart in the last 90 minutes, we will continue to go lower tomorrow.  The lack of fear is preventing a bottom from forming.  They are delaying the inevitable, a strong breakdown of SPX 1040 and a close below it.  The longer the delay, the less confidence I have in a strong snapback rally.

1 comment:

Petsamo said...

Maybe the bears are tired and the bulls don't want to make a decisive move.