the Yuppie Pig

It's been a really volatile market, the past few days filled with alot of intraday moves, and plenty of gaps. I think another is brewing now, as I see the S&P futures up 8 points. I took today's late day sell-off to lighten up some shorts in IYR and SBUX which reversed hard right at the close. For me to be convicted of a more significant downward move towards the 740-760 region, I'll want to see a move below 800 with some conviction.


This 60 minute chart, indeed has rolled over on the MACD suggesting downside ahead, but it does not have to happen, as the previous two roll-overs show.