Stock end session higher

Stocks were lower for almost the entire session. Then late in the day CNBC reported that a bond insurer might get bailed out and the stock indexes reversed losses to close well up for the day. It appeared that the market was heading for the lower range of those triangles I pointed out on the last couple of posts. Now indexes are right back at the apex of those triangles. Not much to be gained by showing charts. Momentum is very mixed, with trends all still down, but trend lines are coming closer together, so that could reverse soon. But who knows. With the way these markets are flipping back and forth every day it is difficult to trust that there will be enough follow-through for any kind of a trade. I’m sitting on my hands until the picture clears up. Gold and oil were down in the early session, only to both rally later. I think I’ll keep this post short and start my weekend early.

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