The rally appears to be forming a persuasive-pattern where plenty of new highs and smaller reactions creates the illusion of plenty of strength. The strength is masked by low , which indicates we should be skeptical of the rally.
on the exchanges is dwindling and that is a fundamental, long term weakness. The Knight-Capital disaster is a positive for GS as it makes the competitive landscape that much smaller for GS to dominate.
I wish us all good fortune in entering a trade against the trend - it always takes "guts" to stand in front of what seems to be a steam train. I could see entering anywhere from the 105 to the 110 level. So, follow this chart and I'll do my best to pin-point the safest entry time that I can find.
9:29AM EST Friday, Aug 17, 2012