Monday, April 7, 2014

US market update

Three charts:

R2K is getting slaughtered, >2SD down. Notable the R1K chart looks a lot better than this.

QQQ is getting slaughtered, >2SD down on massive volume after a massive volume day on Friday. This is certainly a roll-over, though you have to wonder how much of the out-under-performance is biotech and earningsless momo barfage?

Even Transports are starting to nosedive now, though they still look a lot better than Q and R2K.

I guess the market has decided to manufacture another 10% correction for old times' sake. Self-fulfilling prophecy and all.

PS to NDD: there are 5 Os in "DOOOOOM". Not four.

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