Monday, December 22, 2008

Morning Observations 12/22/08

Very low volume market, and it is only going to get lower as we approach Christmas. Probably won't do much trading this week, but will watch from time to time.
The market was hesitant about bouncing off of Thursday low, but there were some, but not much, indication that some buying or short covering was occurring there. It did bounce, but only to just below Friday's low. At this point, the market just did not have enough buying pressure to trade above this point. The market is now below Thursday low, which is now resistance.

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