Thursday, September 24, 2009

Today's Markets

I've included the above picture simply to show where technical support lies on the chart. Simply put, at current levels there are a lot of levels where prices could stop. In addition, prices have fallen about 2.75% from their peak of 108.

Also note the two primary uptrends are still intact.

Notice on the daily chart that we're coming off a double top formation (Number 2). Also note that there was a ton of volume (1) at the end of trading yesterday and the start of trading today.