Thursday, May 10, 2012
10 May 2012
On one hand, it seems like we are seeing strength, but it kind of also feels like no one cares enough to panic and sell. We have only had a few near 1% losses during the recent decline. There has been nothing violent at all which seems a little complacent with Spanish bonds are over 6% again. Also, we are still extremely overbought using my long term indicator.
In short, I don't really have strong feelings either way, but you can see what the numbers above are telling you.
The JPM news wasn't good for futures after hours. We will have to see what impact it has on regular trading hours tomorrow.
at 10:44 PM