Tuesday, April 21, 2009

04.21.09 - Recovery Day

Internals opened with mixed signals through the first bounce from S1/ the first retracement line to yesterday's down trend line, but we've been all green since and appear headed back to the five-day moving averages post Geithner. The financials (XLF) got this recovery going on his allusions disconfirming yesterday's nationalization fears. Note that Yahoo reports tonight.

Note: We did in fact hit that "out on a limb" level suggested above.

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