The Wrap 11/28/11


S&P 10 minute
S&P 10 minute

As I mentioned in the video last night, sometimes they gap and don’t give you a chance to get in. We gapped up and then we were in a 10-12 point tight range for the rest of the day.

This is classic bear market action.. Healthy markets don’t gap up 300 points on weak volume. They don’t need to.

Anyway, only price matters and not the reason why. The real test will be in the days ahead.  Will we roll over on a another bad piece of Euro news, or will we gain steam if Europe can really show a solid plan and not just promises and plans to have a plan? Still not buying it.

See you guys on the morning.

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