Friday, September 03, 2010

FRIDAY HOLIDAY MARKET WRAP


Now that simple 50 MA has been navigated, next up is the 200 SMA and
double top @ 1129-1130...very light volume...not much selling.
When I see deteriorating economic data, and mountains made out of much ado about nothing....I just don't feel comfortable with the stock mkt in general. I see no bargains
10 yr ended at 2.7%, so we're off the bottom of 2.4%.....not a big deal....that money coming out may be ending up in stocks.
Twice before stocks optimistically rallied to about 1130, and were turned back, that could be key ST level to watch.....bulls even if light volume have the ball.
D

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