Before the Bell 9/23/11

Amplify’d from allamericaninvestor.blogspot.com

The Market, Technical

Are we having fun yet? I don’t need to tell you that yesterday was brutal with the Averages (DJIA 10733, S&P 1129) down big. Nevertheless, both closed within their intermediate term trading ranges (10725-12929, 1101-1372). In other words, they held the August lows, though the DJIA closed perilously close to its low. Further the S&P followed the DJIA below the lower boundary of its short term up trend; and did so with such force that the distance element of our time and distance discipline confirms the break of the short term up trend. Read more at allamericaninvestor.blogspot.com

 

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