Stocks Fall on Retail Report, Bernanke Speech, Oil - AP
Wall Street pulled back Tuesday after a report on retail sales and comments from Federal Reserve Chairman Ben Bernanke gave investors little incentive to extend the previous session's big advance. A jump in oil prices added to the selling.
However, it was only yesterday when they claimed that the market was rallying on the strength of dollar and falling oil prices. Why don't they ever write that the market is acting insane and its participants are a bunch of dumbass who will believe anything the self-serving pundits throw at them?
Same story, different idiots or different story, same idiots?
Ain't that funny? As soon as Dee Snyder starts bellowing out "We're not gonna take it!", the market begins to swoon. It must have sensed my own existential angst. lol
There ya have it, ladeez & gents. The damn thing fell flat on its face after three days of rally that turned out to be nothing more than a double-top reversal―exactly as I predicted three days ago. **wink,wink**>
If it ever falls and closes below the trendline that you see below, you can say buh-bye to this stinker.
At this point in time, the question hinges on not how buy when. It's a matter of time before the damn thing will retest the trendline, ultimately to pierce below. It's worth noting that the trendline was already visited 4 days ago and that the barricade usually comes down without resistance on the second knock.
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