Markets rally

I’ve been away from my computer for a week and a half. Since the last post on this blog the stock indexes took out what was setting up as a triple bottom, within the context of an existing downtrend. Possible reversal patterns fail more often than they succeed, which is why I prefer to wait…

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Stock indexes reject probe to new lows and close higher

That’s a wordy title to this post, but yesterday I wrote to beware of a probe down and then watch for either acceptance or rejection of those prices. So far it is clear that the market didn’t want to stay at those lower prices and traders rallied the markets sharply after the rejection became clear….

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Stocks and most commodities continue lower

Paulson doesn’t appear to know what he is doing. The markets started the day lower and then accelerated to the downside after Paulson spoke. He seems to want to change course with the bailout package, which is fine, but he didn’t seem to inspire much confidence. In the last post I was giving a heads…

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Baltic Dry Index at multi-year lows

There really isn’t much to report regarding the stock indexes. On Friday there was a late day rally, but still leaving an inside bar. There was some follow-through early in the session today, but the rally faded on declining volume. Trend and momentum are still pointing south. However, there may be hope for the bulls….

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