sell signals emerging

http://www.cnbc.com/id/30976096

1:30 p.m. Looks like the HnS intraday had the bears salivating. But until 875 breaks, all HnS are bear traps. Spectacular short squeeze. Quite a few message boards are now filled with sour traders post-reasoning, why the treasury auction is bullish etc. and how it is the work of the PPT. Tune out or use them only as a contrarian indicator (ofcourse with care). Volume is much higher than yesterday. Something the bears miss. The bears have one point on the bulls though - the russells is lagging. Not what I as a bull want to see.

5.00 P.M Things have cleared up sufficiently for us to finally do a chart post tonight. Enough of mindless rambling :-). From our scan of charts, we will present two possible scenarios, ofcourse one bullish and the other bearish. We are slightly leaning towards the bullish one. Check it out later.