XBD – market update

Finally the XBD gets where I thought we would go early this week as we print the 12 today which will mark within 24 h the top of the Broker Index for this wave. This helped the SPX to go to the 850 level again. the NDX makes a SEQ 12 marking the top for good tomorrow of wave A.
I rather expected it to be the other way around to start out stronger the week – should not make a difference though. We need to close the week on a weaker bias to have a confirmation. MS was a harbinger of that as they had a worse than expected quarter and Goldman is priced richly as the leader of the breed.


~ by behindthematrix on April 22, 2009.

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