Friday, August 27, 2010

New lows!

No technical change today, the bearish momentum continues with market having a shot at the downtrend line in the morning followed by another test of the 1045 level by the end of the day.

Tomorrow is going to stays flat until Ben is going to speak. Market players are going to look for clues in Ben's speech about another possible stimulus. Unless market somehow manages to close above 1070 we are going to have a third down week in a row. The last time we had 3 down weeks in a row was in February this year.


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