Hello, Mr. Bear

Wow, an awfully bearish day for the charts today.  The huge wick put in place in SPY today looks AWFULLY toppish.  We’ll see what kind of follow-through we get in the succeeding days.

2013-05-22-SPY_CHARTS

Also, AMZN, which has traded in a falling range during 2013 has predictably reversed course at the top of its range.

2013-05-22-AMZN_CHARTS

Good for the bears who finally have a winning day.  If only a day.

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  1. May 24, 2013 at 9:02 am

    My new indicator (logging data for a little over a week now) has been going bat bleep crazy. Swings from +1200 to -1200 in less than 24 hours. The financial markets are just plain nuts right now. Care for a sneak peak at the (10 day old) chart? Send me an email.

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