It was a mixed day as stocks bounced back in the afternoon from more bad news. The S&P 500 so far is holding the trendline I drew last night.
Although this pullback has been on lighter volume, IBD took the unusual move of changing their Market Outlook to “Rally Under Pressure”.
Trade Ideas for 01/09/09:
Good luck and […]
A worse than expected employment data, as well as gloomy earnings news pushed the overbought market much lower. Volume was a little lower in the S&P 500 and NASDAQ compared to yesterday, which offers some hope to bulls.
Oil was down huge today after the afternoon inventory report. Thankfully I got out of my DIG position […]
The indexes inched higher today, defying its overbought condition.
There was a trigger from the Watchlist. Not a great mover, volume was low, but it closed above the entry point.
Yesterdays other triggers moved a little higher, although closed off their highs, like DIG.
The market really needs a rest, but this is not a market that does […]
