But don't let one hour of the day change your opinion on the the market. The market still made a new low today and it is still below its 200EMA, 50EMA and 20EMA.
Monday, July 6, 2009
Bulls had a nice support meeting today
Just when it looked like the bulls were done for, the market climbs to go green. While this wasn't a shock as I mention this morning, that the signs were pointing to the market being overly bearish with TRIN and CPC being in the bearish zone and the market was very oversold.
But don't let one hour of the day change your opinion on the the market. The market still made a new low today and it is still below its 200EMA, 50EMA and 20EMA.
Indicators are still pointing to some weakness. $NYAD is back below its 8 day EMA
TICK still ended the day negative as well.
$NYMO has not given a short-term buy either, it remains in a downtrend and below 0.
But don't let one hour of the day change your opinion on the the market. The market still made a new low today and it is still below its 200EMA, 50EMA and 20EMA.
