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Morning in the Markets

Posted on February 13, 2009 by Adam

Good morning traders,

Action seems like it’s found its way into the market. In case you missed it, a pretty bearish day ended with a monster rally in stocks. Even as the S&P 500 and the Dow both went on sell signals, bullish percent indicators still read bull confirmed, as bullish as it gets.

I think we are in a transition period here. It won’t be long before we see some decisive price action.

Looking at today’s economic calender, there isn’t too much heading into this three day weekend.

I can’t tell you which way the market is going to go, but I can tell you to stay balanced.

As always,

Happy Trading!