Friday, August 21, 2009

PreMarket Review 08/21/09

Existing Home Sales and Bernanke speak at 1000 ET.

The market may open with a different perspective this morning. Instead of opening near the overnight low, it may open near the overnight high.

Playing devil's advocate again, notice how the NYSE Advance - Decline Line during this recent advance is having difficulty making higher highs. Instead it has been making lower lows. Upward momentum in the equity market may be weakening going into the bearish September month.

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