Wednesday, September 23, 2009

Switch Hitting Market

Short vs. Long makes no difference. Traders can handle it either way.
2 Day, 10 minute - Sep. 23 - Quiet AM followed by volatile afternoon. See saw action reaction to the Fed. announcement. No change in rate but no more bailouts.
20 Day, 2 Hour - Sep. 23 - Resistance held at 107.40 until Bernanke Speak which sent the market up. This was shortly followed by a reversal that lost all gained ground.
3 Month, Daily - Sep. 23 - Bullish Trend on 3 Month Chart.
1 Year, Weekly - Sep. 23 - Long Term Bullish Trend