As noted, markets bounced off from the noted intraday supports which held for the day.
Posted by: *~1Best~* Date: Wednesday, June 17, 2009 11:02:42 AM
Markets trading near at 200dma s
$COMPX 1785.34
$INDU 8461.29
$INX 903.78
Even though we had the last two days of selling/profit taking, we do not have major technical damage yet; therefore, many are just holding stocks as we can see that we didn't have good volume except that market volumes were higher at the open, then volume dried up as markets were trading up from the noted support.
Obviously, markets are in an early correction period, but not many are convinced, so we are yet to see profit-taking sell. A break of the low noted above, SPX 880 will bring more sellers which will help a correction.
No comments:
Post a Comment