Friday, May 22, 2009

Week 2 of Mercury Retrograde
Market Performance Report

It seems Mercury Retrograde is doing what it's supposed to be doing: Disrupting the information flow and exchange.

After a strong up-day on Monday, it was all slow downhill from there. Intraday from Tuesday onward was dotted with sudden, jerky sell-offs. Down-day volume seem to be increasing. Not a very good sign for the market bulls.

Here's this week's performance chart of the major indices. They are basically unchanged for the week, but it sure didn't feel that way, probably due to those jerky sell-offs that seemed to appear from nowhere.

Next week (holiday-shortened), it will be interesting to see how the stock market handles the bond market reaction to the Treasuries auctions (to sell $162 billion worth of debt).


Post a Comment