Tuesday, January 19, 2010

01.19.10 - Trend-Day Rebound

We have a healthy tick today and a nice rebound back up near prior resistance at SPX 1,150.  Although Monday was a strong day overseas, early indications this morning were much dicier.  For some reason my Tradestation is taking forever to load, excuse the Yahoo! chart for the day.  So was Friday another one-day wonder?  Amazingly, the S&P has not registered a back-to-back instances of red bars since December 8th.  [IBM Earnings Whispers]


Jim said...

Jeff, is this wierd or what?

"January 19th was the 18th time out of the past 20 weeks that the Industrials rose the first trading day of the week, either Monday, or the Tuesday after a Monday holiday. Bizarre. Over 80 percent of all the gains from March 2009 have occurred on Mondays."

Pointed out by Robert McHugh, among others.

jgpietsch said...

Thanks Jim, the so called "mutual fund" or "merger" Mondays. Yes, still I find that hard to trade on!