Daily Stock Market Update – Part Two – 08/25/11 © ™

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  • Short Term
  • August 22, 2011 To Present
  • Step 1 Up – Finished – Unverified
  • Current Action Status – Formal Buy Signal On August 23, (ramblings about a bottom from August 19th onward)

Here is what I believe happened this morning.  Don’t know why I didn’t see it a few minutes ago but I had been busy and didn’t have the time to think about what was going on behind the scenes.

The weekly jobs report came out this morning and it was terrible, but the market hardly reacted.  That was a BIG surprise to me, but why didn’t it react???  I’m going to theorize that the professionals had heard an announcement was forthcoming about Berkshire investing in Bank of America and thought the market would react positively (it did).  As the market spurted upward, the pros began selling into the teeth of the advance.  When the buying was spent, the market began its negative reaction to the jobs report.  And now we have our correction underway as I originally expected.

By the way insider trading doesn’t exist, just ask the SEC.  Therefore the above reasoning must be pure fiction.

08-25-11 SP500 FUTURES 1 MINUTE BARS

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