Wednesday, January 13, 2010

Today's Market

A.) The transports have broken through upside resistance, but have since fallen to support levels.

A.) On decent volume, prices rebounded from support.

A.) Momentum is increasing, although at a weak level. Ideally, we'd like to see the upward angle move at a sharper angle.

B.) Notice that when prices were consolidating the A/D line did not fall. That tells us money did not leave the market -- a good sign.