S&P 500 Morning Analysis 10/30/09

After getting deeply oversold in the short term, the markets gave us a nice trend day higher and went on to exceed the targeted 106 level. With a declining 5DMA, it is difficult to trust rallies for more than a daytrade and this morning we are seeing some weakness as the SPY is currently trading at 106.35 Today looks like a day to go slow to me.


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  • Brian Shannon

    Brian Shannon is a full time trader (with 17 years of experience), educator and author of the highly regarded book Technical Analysis Using Multiple... More »

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