1. On the mark when Mars opposed Saturn, bad news swept the world and brought markets to their knees for a few hours. That was a taste of the things to come in a few weeks as one news was merely reported about as it is a deal-breaker going forward for the bull campaign.
Specifically, it’s expected to signal at its April 27 meeting that there will be no more asset purchases at the end of June.
I am not so sure that the FED would announce such a crucial change so early as it would send down markets and in the current fragile situation could even cause a crash. Since we are still in Mercury retrogade mode a lot of the news flow these days can be doubted to some degree.
In any case the market has lost its melt up mode and some people are preparing for the exits is the least one could say with Gold at 1500 as Universities take physical delivery.
NDX made very interesting moves yesterday as it closed a gap with a gap plus the gap that started the slide was defended on the upside, which clearly indicates that a top is building. Short term my downside targets were reached overall even a bit stretched in the case of the NDX as 2270 was the mark. Apple rally took the market back up as some are betting on a good quarter earning release on Wednesday. I think later this week we turn markets back up as some good earnings should come but the bulls have not much time left.
|MONDAY, APRIL 18, 2011|
INVESTOR SENTIMENT READINGS
High bullish readings in the Consensus stock index or in the Market Vane stock index usually are signs of Market tops; low ones, market bottoms.
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