Monday, October 27, 2008

TODAY'S ACTION

Can't really be surprised about the last-half hour meltdown. This is a disaster for the market because the initial support level is now broken and October 10's low is the abosolute last level remaining. There are no more short-term support levels remaining. Technically, if you count the bodies and not the shadows, we broke down a long time ago. Doesn't look good for the market at this point.

S&P 500 1-day

S&P 500 3-day

S&P 500 10-day

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3 comments:

  1. AnonymousOctober 28, 2008 at 4:22 AM

    http://quotes.ino.com/chart/?s=FOREX_USDJPY&v=dmax

    Here comes the carry trade right on time, here comes the carry trade coming down the line.

    ReplyDelete
  2. AnonymousOctober 28, 2008 at 4:18 PM

    Is it time to buy CHK?

    ReplyDelete
  3. John C. LeeOctober 28, 2008 at 4:27 PM

    still in a tri, wait for clear direction

    ReplyDelete