Archive for October, 2007|Monthly archive page
With two more days of distribution this week the market is telling us it’s not a buyer’s market. But we expect volatility to remain high, and would not be surprised by anything going forward. Thursday’s distribution may actually be a bit of misnomer as the S&P 500’s decline was marginal. Short-term pivot points on the charts are commonly marked by high volume. The 50-day MA will be the key marker in coming weeks.