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This is about the area where the bulls need to obtain traction and take this market higher, or risk losing control of the trend.
I added index shorts on strength today to bring my short term portfolio to a neutral stance, long metals and short stocks.
Flight to safety day as the European debt crisis continues to shake the markets. So we saw a rally in gold and the dollar, with stocks selling off. From a short term trading standpoint this downtrend is getting a little old unless we are seeing an intermediate trend change to the downside.
It looks like we might be a in period of chop and consolidation, with brief rallies and declines within some trend probably upward slowing.
I thought it was very interesting that the VIX remains relatively quiet. Watch this carefully.
A 'flash crash' is possible as the markets are thin and the technical gamesmanship and fraud are thick. Equally thick is the propaganda that dominates Western economic discussions and tends to cloud the problems and issues.
