The NYAD opened at a wildly enthusiastic 15.01 and promptly sank all day long...reversing an opening gain of over 400 points to a closing loss of over 200 points. That's a Trap Door setup that will go down in the books as one of the worst....ever. Nothing like a 626 point intraday swing to keep your blood pressure up. Pity the poor guys that placed buy orders intraday in their mutual funds as the market rallied and then got filled at the close. That's one reason I would NEVER, EVER buy another mutual fund. There's a couple other reasons but ETFs are so much more attractive than mutual funds that I have a hard time understanding why they still even exist. (just my opinion of course).
Here's the latest SPY Ponzo based on Monday's close and the forecast is somewhere between grim to dismal. I'm not trying to be flippant but keep in mind that the Ponzo is based on what's happened before over the past 25 years when SPY has encountered current price action. Caution, caution, caution .....
