Profit taking now going on and DaBoyz will reverse the trend before long

February 28th, 2012
in Gary's blogging

2:09       There is some profit taking going on and DaBoyz will reverse the trend before long. As of late the market rises and falls within a very narrow range staying just below the resistance zone. All of this with exceedingly low volume - I am not impressed, interested or willing to participate until greater volume is present.

Unless you are a floor trader or one of DaBoyz, this action today is of little interest to me in particular. Just more noise with relatively little meaning to the BIG picture.

(10 min chart of the 500)

WTI oil has fallen to 106 and Brent to 121.83.

 

Written by Gary









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