horrible tape action on light volume

The tape action has really been tricky on an intraday basis and near term basis.  It seemed quite clear that the market was unable to break the recent lows with the lackluster volume, but once again the market has sold off into end of day and created what looks like a very ugly closing reversal.

This is now putting RSI (relative strength index) in a very nasty stance and setting up the market for a huge sell off the next several days!

This has been some of the most deceptive market action I can ever remember !

Posted in Online Trading

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