The Instant Replay Market

For the third day in a row the market has tried to rally early only to succumb to selling late in the session. The action is best seen on the Nasdaq which failed at its 200-day moving average and at the 2,000 level again.

It’s starting to feel like the calm before the storm as volume keeps shrinking daily. I still think that the bulls would be better served by a ‘whoosh’ lower to shake out the sellers instead of these feeble rally attempts.

Comments

  1. Posted by Alexis on March 28, 2005 at 7:44 pm

    growing a little impatient Mike?