Monday, January 14, 2008

01.14.08 - Range Bound Action

This fairly range bound action isn't terribly convincing, is it? Feels a bit like Friday so far, albeit less strong in terms of underlying TICK activity. Still, one could view it as a bit of consolidation/ base building. To keep that view, we'll have to hold above the Friday lows/ Pivot. Note that the five-day moving averages have finally flattened out and that the Semi's are doing nicely.

12:45PM CST UPDATE: Looks like some bond selling -- this is good, as is cumulative Tick taking a more northernly tack.

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