Friday, January 20, 2012

Houston, We Have a Problem

We have already highlighted the breakout in the PowerShares QQQ Trust Series (symbol: QQQ), and it is has been clear from the market action over the past 3 weeks that nothing else really matters except, well, the market action. As long as prices are going higher all must be right in the world. Right? It must mean something. Why else would prices be breaking out?
But you really don't have to go too far to see that something is really, really wrong with this rally. It is volume. Where

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