Ponderings.

Well the last two days market's pricing mean that we have bumped up against or have penetrated the down trend lines that have been in place most of the autumn. The S&P as represented here by its ETF {SPY} may have sold off at the end of the day due to certain erroneous comments out of General Electric. Other major market indices look better.



Yet......
That same late day selling pattern that we've seen most of this month was back after yesterday's brief hiatus.


What is positive so far is that.

1. We are testing and so far penetrating major market down trends.
2. Market is still trading at very over sold levels.
3. We did not give back much of the gains from yesterday.


Tomorrow's another day while today is just another example of a market that can't seem to make up its mind hour by hour which way it wants to go.

*Currently Long GE, SPY and various S&P related ETF's for various client accounts.