roguetrader
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user said:If once again we give the majority of the days gains back then that'l be highly bearish imho.
It will indicate the lack of institutional participation to the upside.
Nasdaq down also imho means that the direction is about to turn and normally Nasdaq is a good leader of direction to start with....
Well what ever happens, the remainder of the session should be pretty interesting.
Added once again to the shorts at 10580....
Hi User, it is of course very possible, but on the subject of the Nasdaq I wouldn't read too much bearish into that, it is merely following the pattern of a correction, with lower volume down days, and since at the moment it is correcting by time more than price is still quite bullish. From my view, the Nas lead the last leg up, the INDU was the laggardso nobody is going up until the Nas is ready to go.