CME Fail ~ The Risk Averse Alert

Tuesday, September 28, 2010

CME Fail

Despite positive, pre-market futures indications, today's open was incredibly soft...

OEX 5-min

Two gaps lower reveal yesterday's final hour created a serious crack that, no save over the remainder of the day disguises. Indeed, this morning's downside follow-through to yesterday's lousy close raises concern that, top in fact is in.

Two things are certain. One, trading like that at today's start is unusual. Two, someone was raising capital and doing so with haste, finishing a job begun during yesterday's last hour.

So, today appears to have delivered more direct, trading-driven indication that, a forecast, strong turn lower — quite possibly devastating — is drawing near.

Fast Money
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