Monday, October 26, 2009

S&P 500 close = 1066.95

Signal = BL/N

Market stumbled around most of the day today, up then down, then tried to go back up. Markets are very very oversold and a bigger bounce is highly likely tomorrow. The key level to break to get the momentum going will be 1073. Downside risk is minimal unless we break through 1065 which is a strong area of support. I bought some BGU at the end and am holding overnight.

Levels to watch for tomorrow:

1073 - a break here will potentially reverse the short-term trend back to up.

1065 - strong support area

1 comments:

  1. See my tweet, I closed BGU for tonight in after hours. Will look at buying in the am.

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