Tuesday, July 7, 2009

As Far as Market Internals are concerned

lets look at MR. NASTY who is living up to his name again.

Does this look like a hideous drop? If it looks bad to you, IMO, you have 20/20 vision

Now you can run the the scans and find that the Bearish ENGULFING and the BEARISH MACD cross-overs outnumber their bullish counterparts , 11 to 1. Kinda decisive.

Ya gotta wonder what is going bad and who knows it. Certainly the 130 $Bil Treas financing this week is not helping. I think it is the logical outcome of a market that has been boosted, and liquified until its like the Missouri River, too thick to drink and too thin to plow. If we refer to the liquidity chart, you see its hard for the S&P to stay up without continued prodding from liquidity injections.

Its pretty easy to see that the S&P runs out of steam when the acceleration of liquidity backs off. Thats gonna make it really hard to keep this market going up

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