Thursday, February 26, 2009
Pivotal two days to finish off Feb 2009 trading
Market actions for two days to end the month is important and pivotal. Markets are trading at vst intraday resistances, however, broken above down trend line from the market sell-off after the Geithner speech on 2/10/2009. SPX 778 resistance is not broken above. Markets are trading near at the resistance in premarket -- and we have seen intraday volatility to create trading volumes. Markets are trading at pivotal juncture with volatility, so, at the end of the trading, it may shed more light for future price actions. For interday trading, S/R - buy/sell based on chosen timeframe. Market reaction to the Obama speech is likely adding volatility to market. We have only two days to end Feb2009 during which markets sold off 12% after Jan2009 sell-off, but we may see EOM price actions. Good luck
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