Thursday, September 18, 2008

Today's Markets

On the daily chart notice the following:

-- The general trend since the end of August is down

-- All the shorter SMAs are heading lower

-- The shorter SMAs are below the longer SMAs

-- Prices are below all the SMAs

-- Prices have moved below the 117 level, but have bounced back to 120.

This is still a bearish chart. But the good news to today we saw the slide stop (at least for now).