12 AUG 2010, Thursday

• What a difference a day makes?  Wednesday had a big blast down, Thursday, initially, too.  In AUG 4's post, indicated the 1135 (June's swing high) and 1165 areas as prior areas of importance and 1135 did offer resistance.     
• Top chart is the SP500 and bottom chart is the SPY (ETF that tracks SP500).  You can see via the SPY chart that Da Boyz are making it very difficult for folks by doing most of the move overnight via gaps and then leaving tight crappy ranges for the normal trading day.  It feels very similar to how they ramped it up in MAR 2009, only in reverse. 
• Looking negative again...the 90 MA held the upside and now below the 50MA too.  Also, below 50MA on weekly at 1102 (check weekly chart in sidebar and review a bunch of years using the time box to select start end dates).  In addition broke the swing low pivot at the end of July.  The past 3 months has been a very broad swinging sideways range.
• NYSI is starting to rollover....Possible shorting bounces ahead.