The Wrap 8/16/11


This chop won’t stop. It has been a tough start to the week and the market is incredibly tentative still. The market waited on Sarkozy and Merkel’s address today and it was sort of a non event.

Leaders like AMZN and GOOG look weak and heavy again and the latter closed below it’s 50 day moving average. Technology may have to lead too, as the financials and commodity sector re still on tough shape.

Charts are still pretty broken with few exceptions. Expect fewer ideas while this market tries to figure itself out. Some high probability trades are failing miserably while the market bobs and weaves.

See you tomorrow.


Previous Post
Insider Buying As An Indicator? I’d Rather Throw Darts
Next Post

Recent Articles