Monday, May 24, 2010

Not looking good

A pretty grim day as Monday's go. S&P got as far as 1090 again but just faded away at the close. No melt up, no short squeeze, no break above the 200 DMA. Bulls have got to be sweating now.

We just took another step closer to another major down move.

We may see another rally attempt to 1100 on the S&P before it falls apart.