Daily Reflection: 04.16

18 Apr

Wow. Lofty allegations from the SEC towards Goldman Sachs hit the wire today sending the markets lower. The question becomes, is it the news or the technical patterns that actually move the market? I believe it is the news that acts as the catalyst for the technical traders to confirm their theory. Extremely high volume today, however the DOW still managed to close above 11,000 and on the bigger picture we are simply at a “healthy” pullback point. Look for more reaction Monday.

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