Wednesday, February 9, 2011

Morning Comments 10/2/2011



In the last few minutes of trading the Dow Industrials crawled back into the black, +0.06%. The Transports did slightly better, +0.22%. The Index is very overbought by the RSI criterion - 77.8, over 70 is overbought. On the CCI, however, it hasn't reached extreme levels (+200) which invariably accompany reversals.

The other major indices (S&P 500, Nasdaq) were on the negative side, with the S&P the worst at -0.28%.

A relatively flat night after being weaker much earlier.

Gold in Ozzie Dollars was once again positive. You can see the effect of the currency on the price differential in the chart above.

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