Heading into lunch, this market is not looking lazy. Price is busy exploring lower in a desperate campaign to reveal buyers.
Early on the NASDAQ put on a bit of a show by oscillating 30 handles, back-and-forth, in 2 minute increments. The moves look like EKG bursts as the higher time frame slugged each other in the face, Ali vs Fraser style.
It eventually gave way to more selling. Although it is true every transaction on the market has one buyer and one seller, right now no one is buying. Liquidity is low and we are on the verge of another credit crisis.
The market is having one last extreme bipolar fit before the year end–thus assuring itself nothing but coal and a straight jacket for Christmas.
Hohoho
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