Monday, April 8, 2013

Double Distribution Stop Gun

Today's outwardly looking bullish action is really not so wonderful when looking underneath the hood.  I get that up markets can go up in all sorts of awkward ways.  But, seriously, an afternoon spike higher like today sporting very low volume is not high confidence. Since January there have only been TWO days with lower volume. Additionally, as we will illustrate, the action smelled of liquidation versus methodical accumulation buying.

I'm highly suspecting a down move tomorrow.  I'm way overdue to be wrong, but we call it like we see it around here : )