Day Summary

As I wrote yesterday that this could be an interesting week, we got a taste of it today both DIA and SPY fell on above avergae volumes. We are in a crucial retracement zone and were due for a pull back. The question is that would bull start coming and hold the lines and consolidate here or does bear start its roll? For now I have a mixed bag of portfolio but I am more long than short. If the bear market is over than I suspect some sideways movement in the markets may be for 2-3 weeks before it heads higher, if we are in bear market then we can seem some serious selling pretty soon. Intermarket analysis points to some downward pressure on markets ahead. Dollar has started to fall again and gold, bonds currencies are starting to gain ground again, but Dollar may very well go and retest its lows and hold that would be bullish for equities, lets see how it folds ahead.