Oil closed today at $129.29. Down $5.31 on the session.
Gold closed at $970.70. Up $8.00 on the day.
Dow closed up to 11,446.66. Up today 207.38 points.
After hours today, Merrill, Microsoft, and Google disappointed with earnings and/or guidance.
This should make for a rocky open tomorrow and being Friday, it could make for a break even close by the end of the day.
If earnings do not totally continue to disappoint, we might extend this short term rally to either 11700 or even possibly 12100. Then head back South after hitting these points of resistance.
We might see more of this in this in the coming year. This is people trying to get their money out of Indy Mac Bank.
Good Fortune from Trade-Equity!!!
Thursday, July 17, 2008
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