Tuesday, January 20, 2009

Today's Markets



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Prices dropped below key levels today -- levels established last Thursday.

Also note the following:

-- All the SMAs are moving lower

-- The shorter SMAs are before longer SMAs

-- Prices are below all the SMAs



Click for a larger image

Notice the following on the daily chart:

-- Prices are below all the SMAs

-- All the SMAs are moving lower

-- The shorter SMAs are below the longer SMAs

Also note the extremely important downward bar today; prices took a major move lower.