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Wednesday, December 22, 2010

Wednesday, After the Close updates!!!

The upper channel line on the Muni's is still holding as resistance.
The bottomed dropped out in Baltic Dry Index (BDI) today, down 27.20%, this is a very unusaully large move. I am not sure if this is a mis-print or not, I have not yet found out what caused this, more later if I do!!!
**Update, I have spent the last hour trying to find out if this is a mis-print, I also have an e-mail into Stockcharts. Still nothing. If this is a good print, this is a crash IMHO.
***Update, I cannot find any reaction to this so I am calling it a mis-print.
Tick-Tock, it is taking for ever for this final wave to wrap-up, but there are signs as the STO indicators on the shorter-term charts are starting to roll over to a sell, even on the above hourly chart the STO has rolled over, but the RSI still has not broke below the trendline. When the selling does start, there are a few points of support that once the first gets broken, the rest will start falling like dominoes.
It was a mixed day on Wall Street with a lot of sideways movements trading in tight ranges, Boring. Breadth was only 1.58:1, advancers, on very light volume, 782M share traded on the NYSE.

1 comment:

  1. yep.. it is a misprint