Tuesday, August 17, 2010

Technical Picture - Accumulation Day

Keying off of yesterday's hammer, the markets have pushed aggressively higher amid better data/gains in Europe, stronger earnings (HD, WMT), M&A activity (POT +27%), dollar weakness, some improvement in Housing Starts and above consensus production/utilization data. The advance lost steam well below gap resistance and sellers became more aggressive into the close. Still, today is an accumulation day, so now we wait for some follow through.





2 comments:

佳張張張張燕張張張張張 said...

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RivTrader said...

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