Wednesday, April 22, 2009

Finally, markets are showing a down momentum

Markets are showing negative divergences and internals is deteriorating. With the AAPL news hype, the stock is pumped again in AH.

Daily price action momentum has turned negative, http://trend-signals.com/. Market breadth is also turning negative even though the markets are supported by the Fed.

Markets certainly have showing good momentum since the Mar 6, 2009 based on the false hope of spending the huge debt, but considering the negative sentiment during Nov-Mar, it is understandable.

The intraday high HOD backtested trendline pivots.

$COMPX 1679.82
$INDU 8044.83
$INX 861.78

Markets closed at a vst symmetrical triangle formation with 60min momentum turning down. Markets ran 30% from the Mar 6, 2009, SPX 666 - which is a significant rally. All bears have been chewed up by the recent market manipulation and certainly market sentiment turned bullish on false hope.

$COMPX 1646.12
$INDU 7886.57
$INX 843.55

Fundamentally, the 2000-2007 deception of GDP and economic data reporting destroyed American wealth, and with the debt spending, markets are again hyping up, creating more injustices for many in the future.

We are still seeing economic crisis, and luring in small investors and taking the fed print money using the financial markets are not the rational way to fix our economy.

STOP bubbles like what Obama is deceiving millions now with false hope of spending debt and hyping stock markets.





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