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Markets Collapse As River Theory Shows
Everywhere
The markets are taking a beating today on the back of major
worries out of Greece and the rest of the European Union.
The SPDR S&P 500 ETF
(
SPY
) is trading at $134.64, -2.11 (-1.54%). This is the biggest drop
in the markets in almost three months. In addition, it is coming
off the double top in the SPY from May 2nd, 2011 as well as the Dow
Jones Industrial Average hitting 13,000 and the NASDAQ hitting
3,000. The fact that the market failed to confirm above these
levels is significant and probably speaks to a multi month top.
The gap down today fits the criteria for a River Theory. This
and Confirmation are both proprietary techniques that are truly
amazing signals on future market direction.
The PowerShares QQQ Trust, Series 1 ETF
(
QQQ
) and SPY opened below their 20 moving averages. This puts in play
further downside over the next few days.
Shorts in
Caterpillar Inc.
(
CAT
),
Mastercard Inc
(
MA
),
Microsoft Corporation
(
MSFT
) and the S&P 500 are all doing very well. In addition, the
time factor of a major cycle date is on the horizon. This looks to
be playing out as well.
Gareth Soloway
InTheMoneyStocks.com
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CATERPILLAR INC (
CAT
): Free Stock Analysis Report
MASTERCARD INC (
MA
): Free Stock Analysis Report
MICROSOFT CORP (
MSFT
): Free Stock Analysis Report
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