The Gap Up was anticipated. The subsequent collapse was a covert operation!
The DX was decidedly down early in the AM. The DX then rallied which coincided with a market deterioration.
VIX (Volatility Index) - The general trend is down witch is bullish for the general market.
SPY 20 Day, 1 Hour - 6.21.10 - There was a general market pull back following a strong gap up. The lack of bullish support came as a complete surprise to most traders. The general consensus was that everything pointed to an upside move. Typical of the market it did just the opposite.
Potato Trade - SPY - 6 .21.10 - Downside move has penetrated the 8 day Potato. Will it be fatal? It is still possible to recover. Tomorrow will tell the tail.
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