6/6/06
ATR - End of the Day

Mr. Market continued dishing out the pain today as the major averages fell once again as volume surged. Besides some small signs of relative strength in health care and networkers, every major sector was in the red led by Gold.

There was some small troopage into the close, which in a better market would bode well for some positive action, however in this case we look at buyers with a sarcastic grin and say go get'em, tiger as we know they will soon be back with us on the side lines.

The S&P 500 managed to close above the critical 200 day moving average while the Q's also managed to hold above recent lows. Despite these small positive as I wrote on real money it is very important that subscribers keep in mind the following:

1. The market has broken several key technical support levels and is down trending.
2. We have not found any meaningful support.
3. Buys at this juncture carry a high degree of risk
4. Bounces cant be trust to last for long.

At this juncture we must remain patient and on guard.

Have a good evening.

RevShark