Thursday, September 17, 2009

Morning Market Review 09/17/09

The market is staying above yesterday's Point-of-Control, at least for now. However, it was not able to make a higher high after 1000 ET. We have a tug-of-war between the bulls and bears. Most experienced traders know that the week following September's Triple witching day is usually a down week. So you will see profit taking today and probably tomorrow.

With yesterday's market having an above average range, it is not surprising that today's market is about half the range of yesterday, at least for now.

Even though the market could not make a higher high after 1000 ET, it is still remaining above the 0930 ET open, but barely as of this writing.

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