The market sold off a bit today, once again “fiscal cliff” worries. S&P bounced off support around the 1400 level as expected. However, the 240 min bars have now turned bearish. On a daily basis the mkt simply stopped at the 50 LRCave and the lower BB so still bullish but the Ergodic is full on down, and the DMI has crossed negative with the adx rising. The weekly looks like its rolling over with the 50/10 LRCs crossing down and the ergodic and the dmi about to shift bearish.
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Author: Geoff
Quick rundown: Grew up in Lombard, Illinois, went to Arizona State University, worked as a CPA with Arthur Andersen & Co, then Laventhal and Horwath, then Rolling Stones, then Heron International, then Goodby Berlin and Silverstein in San Francisco. Moved to the foothills in 1990 and traded futures and designed websites. Married to Kate Stewart, now living in Colfax, CA. We have six grandchildren. I enjoy camping in our RV, hiking, kayaking, fishing, droning and cross country skiing Also conga drumming, photography and dogs.
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