We also see signs of distribution in intra-day trading. The price of the SPY has bumped up against a level just underneath $138, and high prices have been met by increased selling volume.
Thursday, July 19, 2012
Intraday Trading Update- Our Shorts are On
Is it getting hot out there or is the market showing signs if weakness. Considering the name of this post I think you can discern our thoughts. The SPY appears up against a resistance level and the volume is drying up.....
We also see signs of distribution in intra-day trading. The price of the SPY has bumped up against a level just underneath $138, and high prices have been met by increased selling volume.
Our opinion remains that the market will be hard pressed to experience any sustained increases. We see that the market will face headwinds from flat lining economic growth and the lack of any immanent monetary stimulus. Our shorts are on.
We also see signs of distribution in intra-day trading. The price of the SPY has bumped up against a level just underneath $138, and high prices have been met by increased selling volume.
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