Friday, October 16, 2009

State of the Market - 10/16/09

It's the weekend - short post today. The action today looks bad on the surface but the S&P held the 1080 breakout level and the Nasdaq closed above the gap around 2155 so it really wasn't that bad today. Now if we get further selling Monday, then maybe things change, but as of now, today is probably good in terms of controlling how overbought we get in the short term. I still have a decent amount of setups that look good, so I will share those sometime this week in a video (I promise). Take care and enjoy the next few days.

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