By Sell Puts
The bear's won the battle this week. I believe the mom & pop market participants are getting tired of defending the upper boundary of the downward primary channel. My guess is and i do not know this, but many market participants are looking at a chart strikingly similar to the ones above. We have been in the process of topping in this rallying across the channel. THe rally being in the form of a rising bear wedge, highlighted in black. The PPS broke down out of the wedge following the channel closely in consolidation. Psychology takes hold here on the public because the market hasn't dropped substantially yet, IE there are still suckers the hedgie's can sell into. My guess is the shorts are in place, and now its up to the media to change the sentiment and bring this bad boy down. Maybe Oprah can help?
--Money trend analysis here.
Have a safe weekend.
