Monday, November 17, 2008

Today's Markets


We're still consolidating. However, there are plenty of reasons to be bearish on this chart. Notice the following technical developments:

First -- note these are exponential moving averages. These moving averages give more weight to more recent data.

-- All the EMAs are moving lower

-- The shorter EMAs are below the longer EMAs

-- Prices are below all the EMAs


We're still consolidating in the triangle.