Saturday, January 10, 2009

Video - Weekend Market Summary - 1/10/09

Here's the video for this weekend. Main points for the video include:
  • I was still somewhat bullish when I wrote my post Friday due to us still holding support and volume coming in lower, but after going through my scans, I have changed my outlook. I don't know if we will break through support soon or not, but it certainly looks like things have changed or are about to change.
  • My overbought indicators have come down but not as much as I expected. We aren't oversold yet - I thought we may be on Friday.
  • Still see quite a few playable short setups and the longs I have been watching continue to dwindle. Seeing AIPC and CSKI act the way they did is not good.
  • Video shows why I am not encouraged by the longs I am seeing and some shorts that still look poised to breakdown soon.
Weekend Market Summary – 1/10/09

Direct download link here. Off to watch more football - hope my Steelers can pull it out tomorrow. A Ravens-Steelers AFC championship game would be absolutely epic. Good luck trading next week.

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