Friday, February 26, 2010

Dow Forecast for 2/26/10

If we interpret yesterday and the day before's action as a bullish harami, and today as a hammer, I'd tend to be cautiously optimistic about tomorrow. Note also ES up 200-350 in the overnight. Support at 10,280 was tested and held the last two days. Today's run at it ultimately failed, suggesting the bears don't have the clout to knock 'em down and keep 'em down at the moment.

Last trade - bought 100 AUY at 10.24 on 2/24. It was near its lower Bollinger band and had considerable support at 10.00.

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