Comments in this blog refer to my charts collection found at http://stockcharts.com For intra-week comments go there, updated more frequently.
Sunday, June 5, 2011
Weekend wrap- reading the mess.
It will be a very short update this weekend, with only one chart shown. Trying to make sense and a pattern of what's has been going in the market for the past month just led me to one conclusion- I have seen it before.
There is actually a rational explanation to this pattern- distribution going on, once that done a short-lived rally will likely happen followed by more substantial decline. This actually fits my prior assumptions about top in July then botttom in August and the final drive to the bull market top in October.