Friday November 9, 2012

Very weak retest back to 1490 on the S & P.  Traded their briefly and then fell back into the 1480s for most of the day fading to 1479 by close.  Long and short term technical patterns are growing increasingly bearish.  Did not add any positions since the retest was not substantial.  Market is still oversold with 1398 now the retest stock market on the upside.  Need to move with conviction above 1480 (probably on Monday) or 1475 will get taken out.  Still yellow on investments because of the weak retest.