Monday, January 5, 2009

Market Falls, But There's Still Underlying Strength; Jan. 5, 2009

The market is down today with the Dow leading the way with the biggest losses. However NYSE breadth is actually positive with more up volume than down volume and the advancers outpace the decliners. This is bullish. Plus, several sectors are actually up today with energy being the biggest gainer. So as it stands now, this does not look like any significant declining phase beginning, but rather just a pause in the uptrend towards the 950-1000 area.

1 comment:

Anonymous said...

I hope the S&P stay under 945 this week. :)