What happens at the close tends to continue into the morning. I am expecting an early sell-off in the first 30min then continue to consolidate in this area.
"who in their right mind would want to be long today, with our economy the way it is."
I'm certainly not some raging bull, not at all in fact..... but I do recall the economy looked darkest in the first quarter of 2009, not a bad time to be shopping for longs in hindsight.
Actually, since last Friday FED meeting, everyday was green. Ben is behind to drive the market, hard to believe that MM will make a day red. We will see.
This fits with Umpel's timing charts. the BB squeeze is on and momentum is up but waning. Market needs a day or 2 to let us know which direction for this projected major move.