Wednesday, December 10, 2008

Today's Market


The overall tone of the market is still bearish. Notice all SMAs save the 10 day SMA are moving lower. While the 20 day started moving sideways, it did this at the end of October so this is not a move to thril a trader. Also notice the amount of resistance offered by the 50 day SMA. Prices just do not want to cross that line -- at least not yet.