Markets closed at pivotal supports with intradays showing positive divergences as we can see on 60min charts. We have vst daily down momentum while weekly momentum is up. We knew that earning reports for Q4/2008 will be bad. Futures are trading down at the moment, but market could trade higher going into 1/20 OE week. Given mixed technical readings, trading based on S/R trendline break confirmation is better.
A side note: The Knight, who was so wrong during 2004-2007 until 2008 and is now bragging about quadrupling his money in 2008, is really blowing his trumpet now. His blog time stamp is not the same as EST; however, all blogs and websites can be modified any time.
By the way, we now have gazillions of websites and blogs exploding since the last few years -- from various spectrum of backgrounds -- from less than high school ed and doper ex-jailers to highly educated with doctorate degrees.
http://slopeofhope.com/2009/01/11/those_who_cant_trade_advise.htm
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