PULL BACK CONVICTION?? ~ the FED, BlackRock, Goldman, who else... Pumping markets like there is no tomorrow. ONLY GOD CAN STOP the Injustices and manipulation bankrupting millions and the country with massive debt. Who else can they swindle.
The Oligarchy Club is robbing sheepsters in bright daylight, and now, they have to fight themselves because no one else is able to buy markets.
Market pump from 980, still pumping with illusive hope trying to draw small investors' money to unload huge stock inventories. No one wants to take profit wanting to pump to sell at higher price. Who is still fooled? Internal is showing distribution, obviously, after hyping markets with mega debt spending.
Greedy pig gets slaughtered.
Markets closed near at intraday resistances in megaphone formations and negative divergences.d
$COMPX 1955.92
$INDU 9217.94
$INX 989.67
Wednesday Look Ahead: There’s Pullback Conviction
Posted By: Patti Domm | Executive Editor
| 18 Aug 2009 | 08:06 PM ET
It could be this week, it could be next week, or it could even be in September.
But no matter when it happens, traders remain convinced the stock market is set up for a pullback that could take it another 10 percent or so lower before it can start to really move higher.
Stocks bounced back Tuesday after Monday's global selloff. The Dow was up 82 at 9217, and the S&P 500 was up 9 points, or 1 percent at 989. Financials, materials and technology led the gains.
The dollar weakened, and many commodities were higher, including oil and gold. Oil made a more-than-5-percent move, jumping above $70 in the late electronic session on API's report of tighter-than-expected inventories. Treasurys saw selling along the curve in light volume trading.
Investors Wednesday will focus on Hewlett Packard's better-than-expected earnings report and raised forecast, released Tuesday after the bell. The shares weakened, though, as Hewlett said its sequential revenue would be up about 8 percent in the fourth quarter, less than analysts' expected................
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