The major indices dropped from the open, the Dow falling some -165pts before regaining some ground and closing off the sessions lows. The broader indices, including the Transports, fell about double. These broader indices, out to the Wiltshire 4000, are yet to make it into new highs territory, but they giving it ago. At this stage they retested old highs but need to get up and through to give some more confidence of bullishness. A few of the pending long trades appear to be doing some more consolidating, but this is good work if the broader market does indeed head higher.
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Fri, Nov 20, 2009
US Commentary