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SOX chart. A look under the market hood.


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#1 ogm

ogm

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Posted 11 July 2012 - 11:57 AM

This market looks and trades like crap. Even despite continued hopes and bullishness, many charts look like this.

No follow through to the spike, lower high, that diverged from the rest of the market, and a breakdown in progress.

Overall momentum structure is also down.

I still believe this bullsh*t rally is going to fail. Actually, looking at this chart I don't even see a rally. And this is supposed to be one of the market leaders. Unless this market is going to new highs on AAPL alone.

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