Above is a 3 month graph of the Dow.
Oil continued its freefall to $127.95pb. Down $3.09pb on the session.
Gold closed at $948.50po. Down $15.20po on the session.
Dow closed at 11,602.50. Up 135.16 points today.
Commodities down, stocks up. The market digested some pretty rough news today. This leads us to believe that 12100 might be the target for the reversal. The momentum on the upside is good, due to earnings and the rally in the financials. Keep an eye on the XLF as an indicator. If it starts to show a rounded top, beware.
The energy stocks such as MEE(coal), CHK(gas), and OXY(oil) are really starting to give up some ground and becoming affordable for the next energy push North.
Good Fortune from Trade-Equity!!!
