Thursday, January 8, 2009

Morning Observations 01/08/09

The market is remaining above the 62% correction level.

As the futures is trying to test the morning lows, the Advance - Decline Lines is showing strength relative to yesterday and the early morning trading.

The market is in a narrow range with support at 893.5 and resistance just below the high of yesterday's last hour of trading at 905.25. The $TICK is also at a higher level than yesterday.


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