Wednesday, January 6, 2010

Financial ETF Exceeds 50-day Average

"FINANCIAL ETF EXCEEDS 50-DAY AVERAGE -- SO DO SEVERAL BIG BANKS AND BROKERS -- HARTFOLD FINANCIAL IS DAY'S FINANCIAL LEADER"
These were the bullet points from Chartist John Murphy yesterday, as we saw the prior day upside NOT hold, but begin to deteriorate to the "deciding line" at 10,550.

We have new Advanced Mentoring clients I did not bother emailing with today about the market, because it was another day of flat line trade range at a major support and resistance area on the Dow.

And in our Dow projections this juncture decides the momentum of the market, and the early January strength or weakness.

We continue to hold the put, and did not take entry to the call, seeing light futures.

No comments: