Monday, October 20, 2008

Today's Markets

Remember that I'm looking for the market to consolidate at or near current levels. The reasons are listed in today's Market Monday's Post.

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Today prices moved above the 10 day SMA. However, prices are still between the 90 and 108 levels where I think they are currently consolidating. All other pieces of the technical puzzle are still bearish:

-- The SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

-- Prices are still below (way below) the 200 day SMA