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The Market Should Turn Down

Posted, by Smart Trader on August 7th, 2012

It has been interesting to watch the market the last 2 months slowly chop its way up.  The S&P has been particularly choppy on its way up to its recent highs.  All the talk last week was focused on Ben Bernanke and Mario Drahgi which had a profound affect on stocks and dragged the SPY down to where on a technical level we have been finding a support.  Then when Friday came along and the jobs numbers supposedly looked good (See Real Unemployment Rate) the market jumped on those numbers plus falling bond rates in Italy and Spain contributed to the enthusiasm on Friday.

Authored by, Smart Trader
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