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Are the Boys are Back in Town?

Posted by NHF | Posted in Stock Technical Analysis | Posted on 10:22 am September 1, 2009

2

What a kickoff to September.  Everyone has been harping how bad September is and how the market could finally get some reversal action, but there has been so much talk about it that its more of contrarian play to be long.  The bears got some vindication today with a very strong reversal on some relatively large volume as shown in the chart below.  The trend line that we have been talking about that was broken yesterday was tested this morning  and it rejected the market lower.  Also below is a video to put a theme to it all…..

chart on full post……..

spy-9-1-09

Comments (2)

Bernie M. said on 9:44 pm September 1, 2009

Definitely reminded me of action a year ago… steep high volume moves

Reply
baxter said on 7:25 am September 3, 2009

I hope the boys are back … Im sick of all this BS

Reply

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