Monday, February 8, 2010

Market rolling over into the close

Oil still holding up but the S&P just rolled over and is at it's low for the day. Gold is acting in a very similiar fashion. The down is well below 10000 and looks headed lower.

This is very bearish action after the strange reversal on Friday which kept the DOW above 10000. The Euro has barely bounced and the dollar continues to rise.

Technically, all markets look bearish including oil and I would not be surprised to see more downside tomorrow.

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