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发表于 2009-5-14 03:17 PM
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In the last 2 weeks of Apr and 1st week of May, we saw massive buy orders whenever the market looked to be on the verge of collapse. While NYSE ticks were either negative or neutral, you would find strategically placed buy orders that push shares higher up across the board. Now, over the last few days, the behaviour has reversed and it is especially the case today. NYSE Tick has been mostly positive all day, and you could almost make out a lower low and higher high on the ticks (in fact, NYSE tick had an intraday high at 1201 right on the close). This would have been a classic breakout day. However, at the key breakout points, we saw strategically placed sell order that systematically drove the index back into range. I haven't looked at market internals such as advance/decline line, sector distribution, up vol/dec vol. However, given the price actions, I'd say despite having closed higher than yesterday, the market internals appears to be looking weak. That most likely means that distribution will continue in the near future and we will be seeing more weaknesses in the days (if not weeks) ahead. |
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