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Message: Re: Candle Sticking

AL2
Apr 30, 2010 04:06PM

Apr 30, 2010 06:55PM

I agree - topping candles all over the place - especially on the PMs. As for the overall market, there are distribution patterns on many stocks and indexes. Semiconductors breaking down. Signs of fear, VIX in bottoming formation, volitility increasing. I think another correction is already underway or at least very close.

On the bright side, market internals are still positive, and the Venture exchange looks quite good. Still, more negatives than positives. My crystal ball calls for an early week bounce in the general market, but a drop in the PMs. When the market corrects, I think the PMs will ultimately drop less than most sectors, but I am lightening up regardless.

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