Wednesday, October 7, 2009

What do you see on that chart. Nothing? Well that's about the size of the action. The markets moved sideways. The good news is there was a rally in the last hour of trading on increasing volume. That could be a good sing for tomorrow. But at the same time there was a lack of follow-through from yesterday's rise that is concerning. We had the same situation last week (lack of follow-through on Tuesday) and the rest of the week was terrible.

The markets have moved nicely from the 50 day EMA. Also note the MACD is about to cross the signal line.