The SPY upthrusted the previous high of 12/8 on its lowest volume rally so far. It fell back to close in the middle of a narrow range. Although this poor behavior can be reversed, caution and early short sales which are very low risk must be recommended.
Any gap down opening would be especially serious and confirm the lack of demand for stocks evident today. A power down day will seal the fate of this market. While all of this can be reversed and an up move begin, caution for now.
The dx i believe just had its worst 6 days ever. One can only wonder what will happen to liquidity if this continues. It shows no sign of stopping.
