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Stocks could be putting in a top of some significance

Posted by Eric LeRiche | April 1, 2010 .

So far, it’s been a pretty quiet week of pre-holiday trading.  Our drug play approached multiplier status and our interest rate reco was triggered today (see open positions review).   On Tuesday, Verizon was up on iPhone news.  So was the US dollar, dampening the stock rally. Volume is light and Financials may become leaders to the downside.  Stocks can continue their climb, but the time appears to be growing late.

The overall character of the behavior of price action indicates the likelihood, but not the certainty, that current resistance will stand up and repel price back toward underlying levels of support.  Stocks could be putting in a top of some significance.

Time will tell.

Eric$

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