Friday, January 16, 2009

Update Going into the Close…

XLF has been the key all day. It bounced off $9.24 and has been rebounding since, now approaching $9.90 which is still at a 2.2% loss for the day. I have some indicators saying sell into the close, but others are more bullish, so I’m flat once again.

Will have charts after the close, it’ll be interesting to see what the candlesticks look like for the day. The weekly candles look more bullish after this 200 point run off the bottom, so we’ll take a look at those too. Remember, a long weekend is coming… more after the close.