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TOTAL INTRA-DAY REVERSAL

2 November 2009 by Cullen Roche 1 Comment

S&P futures have reversed this morning’s gains for a full 2% decline.   High beta is leading the charge down on heavy volume.  Not exactly the kind of action you see at a bullish reversal point in a rally. Of course, we’re not day traders here at TPC nor do I emphasize such trading, but this it notable action on a day when the data appeared quite positive.

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Cullen Roche

Cullen Roche

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Comments
  • Frederick

    Yet again, the Transports are collapsing vs. the overall market.

    I don’t see how the broad market can advance at all while the .DJT continues unabated to the downside.

    11/02/2009 at 12:53 PM