Is this the market top?
Posted on | Thursday, January 21, 2010 | No Comments
Officially you can make a great argument to get short the S&P 500. On this post I talked about how the top would be identified by either a huge spike in volume or a total absence of it. Today we had the largest volume traded in the mini S&P contract since the rally began in 2009 while closing on the lows of the session. We will need to see what develops over the next few days to confirm a reversal in the upward bias, but the bears definitely came out of the cave today. (For real this time)
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