S&P Ramp Stalls At 50% Retracement (For Now)

Rumored - and denied - reports of an imminent Greek deal spewed momentum into stocks but for now, the 50% retracement level of the high-to-low swing is holding the exuberant equity market back...

Comments

[i_call_you_my_base]

Not to worry, 300pm, the time at which all assets are undervalued is coming.

[Headbanger]

Moar like after lunch is when stocks get hammered now that the last few muppets of the day are all in.

And gee, ya think there could be moar than a few juicy sell stops to run at S&P 2100 support now!!?

And all it takes is another rumor Greece is still fucked.

Duhhh..

[rubearish10]

You knew there was a deal when they were "Nowhere Close". Of course!

[This is it]

If i had a nickle...

Is it too much to ask for?

[NoDebt]

Nickel.

[NoDebt]

Slow news day.  And not even a passing mention to the correlation with USDJPY or interest rates or nothin'.  Sad.  Just sad.

[Consuelo]

Be patient - it'll take a few days for a carrier group to assemble near the 'sand castles'...

[thismarketisrigged]

wow this was so hard to predict.

the ''market'' would be brought back up to pre sell off levels from yesterday by today.

its amazing how it works, any sell off ( i wouldnt even really call it a sell off) is always recovered the following day, but any ramp fest is never sold.

[Headbanger]

Until it is

[Pareto]

the 50 day moving average is like the Wall on Game of Thrones.