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

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved