Have we hit the top?
Hello all..
I have been busy on projects for the last couple of weeks, so I apologize for not posting sooner.

I just have one thing to point out, which could be pretty significant. As I am sitting here, I have noticed that the SPYs are getting smacked!!!

Take a look at the chart above. Todays high is close to the major resistance level noted as Trend C on the chart. The high of 146.19 was close to the resistance level of 146.37. As soon as the Spiders came close to this level, there was a rather large selloff. Currently the SPYs are at 143.87, over a large 2 point downturn. Be careful for more downward pressure as the pricing pattern becomes clearer to the rest of the street. A support level near 142.08 would be our next stop. Also watch for GSS and the price of gold/metals to post gains on the session as a possible safehaven.  ¶ 1:48:00 PM 0 comments