Thursday, March 10, 2011

S&P 500 Intraday, 1-Hour Left

After breaking down from the symmetrical triangle that I mentioned yesterday, it is forming a second rising wedge for the day. Looks bearish to me, but MACD (not on the chart) does show a positive divergence. Probably in anticipation of the PPT.. It's possible that it will reverse upward in the final hour, so that the bulls at CNBC can call it "bear trap".

I don't quite care one way or the other, but I'm irritated with those dip buyers of AMZN... LOL. (But I'm still short.) And I'm mightily irritated with JPMorgue and the gang for banging the precious metals..

The chart is 5-day, 15-minute chart.

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