Thursday, February 26, 2009

Morning Review 02/26/09

In the first 5 minutes, the $TICK reached the 800 level, thus confirming a bullish sentiment at the open. In the correction that followed, the market could not reached the close of yesterday nor the pivot of 764.75. We have been experiencing higher highs and lows up to 1100 ET. Just after 1030 ET, we got a "V" reversal on a small correction. Apparently, shorts had learned their lesson on the previous two corrections. However, the Europeans on their close are taking long position profits, and the markets are back to the open price and slightly below as of this writing.

No comments:

Post a Comment