Tag: 13 EMA

Rally ho!

Today’s price action, along with Friday’s, should give you an indication of just how beat down Wall Street is. On Friday we had the news of President-elect Obama’s choice for Sec. of Treasury, Timothy Geithner, and the markets rallied late in the day to close up about 5%. Over the weekend, Citgroup is saved by

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Market Update

The 13 EMA on the broader index ($SPY) is still a road block for the bull’s journey higher. September 19 was the last time the SPYders were above the 13 EMA. The ETF was also trading at $124 a share compared to $96 a share today. Not knowing if there is a bottom in place

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Monday, Monday…

A nice start to the week for the bulls as the major indices all locked in some decent gains with the broader market ($SPY) gaining nearly 5%. However, I would question the conviction as the volume today was really light. We are approaching a significant short-term resistance in the broader market so if it is

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