Monday, September 22, 2008

Sharp losses, low volume.

Broad US stock market indices again posting losses amid uncertainties about bail out for financial system. Volatility is rising again. All 3 major indices are traded 3% down with very low volume. In my view we saw bottom last week. Today's low volume doesn't confirm reversal of the bounce. I see this as a correction after two-days record rally. Next days we can test support level created on Thursday last week. In my view highly possible is development of double bottom formation with bullish divergence.


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