Today was very interesting. A global interest rate cut is a lot to digest so chopiness was to be expected. But there were signs of buying at least for short periods of time. I don't know what happened at 1 p.m., if it was just traders returning from lunch, everybody spotted the falling wedge, or if somebody started a rumor, but that was a pretty strong move. In Google Finance, when I see all the indexes overlapping, that indicates to me that a move has conviction. At the end of the day though, the Nasdaq bounced off of 1800 and we're left with what looks like a double top.
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