Thursday, April 5, 2012

No follow up...

... after yesterday despite EMAs giving a bearish crossing today. SPX bellow SMA 120 but SMA 120 is still rising. The bearish momentum is weak and we may see bulls recovering the lost ground in the next few days.

The fact that Feds were not too enthusiastic about QE3 two days ago gave bulls the reason to start selling but now probably they are trying to assess if this rally has legs in the absence of another round of QE. We'll see!

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