Are the Boys are Back in Town?

10:22 UTC 01 Sep 2009 2 Comments

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

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2 Responses to “Are the Boys are Back in Town?”

  1. Bernie M. Reply 21:44 UTC 01 Sep 2009 at 9:44 pm

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

  2. baxter Reply 7:25 UTC 03 Sep 2009 at 7:25 am

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

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