Wednesday, August 27, 2008
Today's Markets
The market is a mess right now; there is no clear direction one way or the other. Note the following:
-- Prices and SMAs are bunched together within one point of each other
-- The The 10 and 50 SMA are headed lower, but
-- The 20 day SMA is headed higher
-- Prices are below the 200 day SMA
-- Prices broke through the support of the trend line that started in mid-July, but haven't made a strong move in either direction ever since they broke through.
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