Good evening all.
This is a list of the sales of stock held by insiders last week.
Now why would corporate insiders be selling their holdings if they believed the prospects for the companies were looking good?
I mean this is a bull market right?
So these guys should be holding onto their stock?
Straight down to it tonight.
The drop off the highs in the S&P is more straight forward than the DOW.
We have a nice impulse wave lower off the high developing now.
Wave 'ii' may even be complete at todays highs.
If this is the case,
Wave 'iii' down will take over tomorrow and break support at 2764.
All going well,
the market will continue lower for the rest of the week to complete a five wave pattern lower off the high.
Then things will get very interesting for the near future as wave 'C' will be in-charge of proceedings.
Watch for 2800 to resist any further rise in wave 'ii',
wave 'iii' should begin and break 2764.