Well, Say hello to the end of the 3rd Quater …
It seems the mutual funds sell S&P down on Monday, Tuesday, Wednesday and then we rally Thursday and Friday.
It is just a guess, but alot of the smart money was probably marking up the winners today ;)
I have zoomed back on the S&P chart to show you what happened the last few weeks, we seem to be bouncing off OLD resistance highs that were made way back in APRIL 2012. That is very interesting!
I posted USD charts yesterday explaining what was happening in the USD HERE and its line in the sand move! It is very interesting, and I would keep watching the USD for signs of what the market does in the short term.
The chart above still proves the bulls have not lost their swagger just yet ;-)