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SP 500 and NDX Futures Daily Charts - Fraud Will Continue Until Confidence Returns

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Jesse
Le Cafe Americain
Published : January 27th, 2013
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FOLLOW : Gold Market Recovery
Disclaimer
Category : Technical Analysis

I would be very careful about getting in front of this market while volumes remain low and the Fed keeps puffing up the banks with easy money.

The fairy tale being told is that the recovery has the market giddy, so it is exiting safe havens (like gold of course) and seeking risk plays for more upside.

Volumes remain thin and there is the tell. There is also a divergence between the SP futures and Tech 100.

Next week there are more Treasuries coming to market so we *might* see a pause, but this will not be safe to short except as a hedge on longs until there is a clear trend break. No need to be greedy. Wait for things to develop.
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