| Weekly Trend: | __ | Down |
| Daily Trend: | Down | |
| Daily Momentum: | Down |
The market tried to trade higher but was dragged down into the close. Very weak price action and further confirmation that the trend has turned south. We will only be looking at short positions until this trend position changes again. We will be focusing on certain patterns that will start to appear in the coming week, namely Head & Shoulders top and A-B-C corrections that make ‘lower swing high’ patterns. Obviously we’ll also be watching out for breaks through major lines of support.
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Wed, Jan 27, 2010
US Commentary