Monday, July 28, 2008

07.28.08 - No Buyers on Calendar Risk

It seems no one wants to get ahead of the various reports coming out this week. Thus far the SPY has found support near S1 ($125/ -0.45%). Cumulative Tick is only getting worse though it looks as though most sectors are trying to recover as Energy (XLE + 1.34%) comes back a bit. Money is mostly rotating into bonds using yield as an indicator. Financials stink (XLF -1.65%).

Amazing how many pundits "want" lower prices and/or more definitive capitulation. Practically screaming for it. Maybe they should look at a chart going back more than five days. Ugly.

o I agree, though it's a bit late in the game (so much for an H&S) ~ AlphaTrends
o Take a look at this ~ Bespoke/ EPS Changes Ex-Financials

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