Tuesday, November 3, 2009

Today's Market

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A.) Prices have dropped from 110.31 to a low of 103.08 -- a decrease of 5.9%.

B.) Prices are below all the EMAs. However, they are right below the 50. Also note that prices have formed a bullish engulfing pattern. This could indicate a reversal of trend. Finally, the 10 and 20 EMAs are moving lower and the 10 day EMA has crossed below the 20.

C.) Momentum is decreasing for the SPYs despite the upward trend of prices.

D and E) Notice the RSI printed a lower total on the latest top.