Monday, January 5, 2009

Morning Observations 01/05/09

The market found support at the overnight low, which is also just above the 50% correction of Friday's range. Just before the last 30 minutes of European trading, the market stalled just below Friday's high. Again, the market is trying to find support at the 0930 ET open, which is also the 50% correction of the morning's range.

After two hours of trading, the market has average volume, and ended right where it started.

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