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Monday, December 29, 2008

Monday Morning Update

Here is the U. S. Dollar, excecuting a near perfect dead cat bounce (10 day 30 minute chart).

The market is down this morning as more bad news filters in. The Israelis and Palestinians are going at it again, sending the price of oil up, and that is reflected in XLE, the only sector showing any strength. Dow chemical lost a $17 billion deal in Kuwait, and that is reflected in XLB, down 2.5%. Also weak is XLY and XLF. The SPX has hit a low of 862, and instead of bouncing off it, is more or less scraping the bottom. TNX is down over 2%, TYX down less than 1%.

I have 3 new highs so far, no breakouts yet.

I forgot to update the reporting dates on the earnings sheet yesterday, so I have no idea if any are reporting today. I will get that corrected today.

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