Wednesday, February 4, 2009

Today's Markets

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The prices/indexes are still within the upward sloping channel. However,



Looking at the daily 5-minute chart, we've got some issues.

-- First, prices broke a two day upward-sloping trendline.

-- Prices are now hugging the 200 minute SMA.

-- Prices also look like they are forming a bear market flag pattern

Also remember we're moving forward to Friday's job report which is not looking good.