Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Very strange to see the exact same pattern play out repeatedly but this is the third day in a row they ran em up in the first hour only to see power selling to come in by mid day. Perhaps if there was not the overnight buying each day we wouldn’t get this pattern.
The S&P 500 is on its 4th day below the April 2012 highs of 1422 – while the NASDAQ is on its 4th day hovering over the 200 day moving average. A tight range, and sooner or later it is going to break one way or the other – I thought Apple would be the catalyst to do so but not so much.
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