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I think that’s probably what we saw yesterday when we ran out of steam with the help of the money maggots. Surely the algo’s will say to each other that “well, it looks like the buying is drying up, so we better switch to sell everything.”
That appears to be what we’re getting this am. Everything sold without reason or correlation. Shares taking the biggest hit in the premarket, with the silver shares leading the way. The metals don’t look good, but they don’t look horrible either. If the PPI comes in even a little hot, the metals will get spanked. So, it looks like we’ll find out if there’s any support in the moving averages.
Isn’t it funny that the selling starts right at the exact place where maddog’s chart points to a massive breakout? I’m sure it’s coincidence, even though it happens every, single, time.