Monday, March 5, 2007

Markets Drop; Charts Look Terrible

The markets are closed. The SPYs lost .9% the QQQQs lost .97% and the IWNs lost 2.12%. Clearly people are getting out of small caps.

With the charts below, notice

1.) All the markets had a downward bias

2.) Traders dumped stock at the end of the day, indicating a lack of confidence about the overnight situation

3.) The increased volume at the end of the day.

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Photobucket - Video and Image Hosting

Photobucket - Video and Image Hosting