We finally had a big intraday reversal.  This was a major change of market character, but there still doesn’t appear to be any major technical damage to equities on an intermediate basis.  Volume picked up so we have the first day of technical distribution in a while.  We had being up 5 straight weeks, are we due a down week? Dip buyers will be confident on the first couple pullbacks, and we will have new POMO schedules by tomorrow 2pm EST. 

 

Related posts:

  1. Beat Down
  2. Run to the Top
  3. Get Out of Jail Free Card for Bulls?
  4. POMO Edge?
  5. Down But Not Out