Monday, May 14, 2012

Wall of Optimism Continues

Since peaking on April 2nd this year, the market on a number of occasions has dropped substantially at and shortly after the US market open, only to rally substantially approaching and following the close of European markets.
That statement was from a post last Wednesday where I asked, is the stock market now facing a Wall of Optimism? The pattern has continued for the past few days with the only noticeable change being stronger sell-offs into the close.

(Source: Deja Deja Deja Etc. As S&P 500 Closes Below 50DMA First Time Since November)

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