Monday, July 7, 2008

Advance Decline

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As a rule I do not make any posts during the week. Yet, today I witness interesting situation. S&P 500 advance decline oscillator and ratio were not as negative as it supposed to be during such index slide. The same was in the DOW sector.

Very nice volume in the middle of today’s trading session and very nice recovery right after that…

It was funny to read financial news today. Over the last few months the news tried to put in the head of investors the fact that the market moves down because of high oil prices. Today, when the oil was down and market was down – the media has found another explanation to the market slide and surprise – IT WAS NOT OIL. Maybe at the end the high oil price is not a reason of the market down move? Or maybe we should \never trust media and never based our trades on the media analysis of the stock market.