Wednesday, January 7, 2009

Video - Wednesday Market Summary - 1/7/09

Here's the video for tonight. Main points for the video include:
  • Today was bad but it doesn't kill this market. I am looking at the 50 day moving averages as the last line the bulls have to defend. We are still a little overbought so more selling is possible. As long as support holds and volume is lower, I would probably look at buying a pullback. If volume is heavier tomorrow with more selling, then the tone of this market could indeed change.
  • Video shows some longs to watch for in a few days (not now) and some shorts that look poised to breakdown or did breakdown today.
Wednesday Market Summary – 1/7/09

Direct download link here. Lots of news these next two days - should be interesting. Good luck Thursday.

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