Monday, January 26, 2009

End of Day 01/26/09

The only good $TICK divergence was the one the occurred early in the day. The remainder of the day was simply a slow decline until after the energy market closed. Market Structure was the one clue to where the market wanted to go. As soon as the market climbed slightly above the 38-period EMA on the 620 tick chart, sellers jumped back into the market. We did not get a higher high until just before the close of the Bond Market at 1500 ET.


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