Thursday, January 8, 2009

Today's Markets

Click for larger image

Notice the following on the chart

-- Prices are right at the 10 day SMA. They have sold-off are a nice rally.

-- The volume today was lighter than the previous day

-- The 10 day SMA has crossed over the 20 and 50 day SMA

-- The 20 day SMA is above the 50 day SMA, but the SMA is now moving sideways.

-- The upward trend line is still in place

Bottom line: we're still in a rally