Thursday, January 28, 2010

An Open Door?

Does today's action open the door for a second leg all the way down to that dark blue 200-day EMA for the S&P500 ($104.50)?

I'm certainly not rooting for it, but post Bernanke confirmation, MSFT and AMZN beats, a lot will now be hanging on tomorrow morning's Fourth Quarter GDP, expected in at +4.7%. "Short" of that, Bulls would next have to look to a positive change-of-month effect.

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