Traders still rule…for awhile

Posted on Jul 20, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p68983365835&a=214966864

Traders seized the chance to sell a 6 day upwave and jumped on it Friday.  The usual suspects were rounded up to take the blame -- as in the blame  stays mainly in Spain.  Nonetheless a new higher high was made -- by the hair on the chinnychinchin of the market.  So the bull wave is intact at this moment.

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