Stock-Market-Observations

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• Short Term
• August 22, 2011 To Present
• Step 1 Up – Finished – Unverified
  
• Current Action Status – Formal Buy Signal On August 23, (ramblings about a bottom from August 19th onward)
  

We have had 3 days up and frequently the market will take a breather after 3 days.  The expectation is that the market will correct today and set itself up for a move in either direction for tomorrow morning’s speech by Bernanke.  We’ll see if the market sticks to that schedule after the close today.

Today the market shot up on news that Berkshire was investing money in Bank of America and then it turned south (see graph).  This is an example of not reacting well to good news (that’s cautionary).

08-25-11 SP500 FUTURES 2 MINUTE BARS

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This entry was posted on August 25, 2011 at 7:18 AM and is filed under UPDATE. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site.