SP500, from Craig Mee

February 8, 2016 |

From my view point, half way up the stands, it would seem to be a worthy time to discuss the balance of power and the ground that was made and ultimately lost in the price action of the market since the initial wave of fast selling hit in early January. The struggle of price to fight back from its low point with minimal great runs, epic short term battles between good and bad near the recent highs, and finishing the week on a low point, and the potential changing fundamentals at play, (with heavy selling in USD this week), puts this conflict on the big screen. Could it not be said, that the market during January did little to flush positions, and that the opportunity costs of holding longs at this juncture is just far too great? I say this to engage everyone in discussion, as I see a break from these levels as a high risk of opening up some clean air to the downside.


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