To gain an edge, this is what you need to know now.
Rally Attempt Fails
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows when the stops of gullible investors were taken out. Please read yesterday’s Afternoon Capsule for details.
- The chart shows that the stock market behaved as it typically does after stops of gullible investors are taken out.
- The chart shows that the rally attempt failed on bad economic data of two PMI’s and New Home Sales.