Even DeMark apparently said to buy Monday's dip.
From somewhere I remembered this bit of advice: "don't sell on Friday or Monday"
The bears gave up on the tug of war at 1300 and we saw a "record" 4 days of red candles!
Did they jump the creek today or did Fonzie jump the shark?
A Doji often follows a big BB piercing white candle.
...I think it was trader's almanac that observed "don't sell on Friday or Monday" because statistically they would be lows.
Also I have seen a day or two before the end of months be weak, only to rally into the "6 days of strength" which begin today.
A pullback to the mid BB around 1300 would not be a surprise, then the tug of war can start in earnest.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=2&dy=0&i=p23276280958&a=94546561&r=4269.png
Edited by Rogerdodger, 03 February 2012 - 04:52 PM.
