And here is the second movie of the day: The move from the lows, ran to 1700, rinsed it to 1701, then reversed it hard -- at 11:00 PT, a common reversal time for counter trend moves against the daily trend. Can the programs be any more transparent?
Like we mentioned yesterday, if monthly money is selling, the rally's will get swatted -- just like they were again today today.
But today was just an inside day and downwards momentum weakened -- stuff that can get a buy program or two all brazen-like as odds shifted back away from the sellers somewhat. Plus, 1700 is holding. Should a bounce not take hold, the gap zones we pointed out yesterday down below are in the cross-hairs of the sellers.
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