Daily Murmur 24/11/10 | Gary Glover | Finance News Network

Daily Murmur 24/11/10

by Gary Glover

Our bearish view of markets is starting to unfold.  North Korea and European woes are dragging the markets lower.  Make sure you watch Stockwatch today, so many major indices showed bearish false break patterns last week. 
Remember in a bull trend that all pullbacks should be uniform, ie they are around the same size in price and same size in time, so the SP500 had only had 20-30 point pullbacks along the way and 4 days was the longest in time.  The current pullback is 54 points and 8 days to current low which tells us that the trend has over balanced and therefore it has potentially tipped over.

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