Wednesday, August 27, 2008

Today's Markets


The market is a mess right now; there is no clear direction one way or the other. Note the following:

-- Prices and SMAs are bunched together within one point of each other

-- The The 10 and 50 SMA are headed lower, but

-- The 20 day SMA is headed higher

-- Prices are below the 200 day SMA

-- Prices broke through the support of the trend line that started in mid-July, but haven't made a strong move in either direction ever since they broke through.