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Once again, the picture tells it all. The S&P eMinis are 5 points above their low for the day. The volume oscillator however is making new lows on the day. This indicator isn’t foolproof, but it works more than 75% of the time.

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I listen.

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The volume oscillator tells the tale today.

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Here’s today’s market update.

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All may be not as it appears.

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I realized today that Good Friday in the markets is the opposite of Columbus Day. Colombus Day is a federal holiday that the stock market doesn’t recognize while Good Friday is a stock market holiday that the government doesn’t recognize. These guys should get on the same page.  Here’s today’s video update.

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These charts are through yesterday’s close and illustrate the vulnerability here. click chart to enlarge click chart to enlarge click chart to enlarge

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On Monday, I argued here that three markets; oil, gold and the euro, had all reached critical resistance levels, and to watch how they behaved at those levels, and added that it would be diffiicult for stocks to continue higher without the support from those other markets.

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