- We have the golden cross in the DJIA (the 50MA crossing the 200MA).
- Unemployment is down in Germany, and they are actually talking to the French to resolve all the other wannabe Euro peddlers.
- US Economic news starts on a positive note
Large gap open from the holiday was exciting, but the day fell back into the range trading habit. The possible PA PB was noted, and PA did reach lows of 1270.5.
[08:05] <CM> nice gap in glob from 12/30 close es today 1276.25-1273.5-1269.75 watch for a test of 1265 area roughly 50% of gap
Early trading saw a nice bullish channel running the ranges and producing a BO. The FBO of the channel and flat PA that followed doomed the BO-5 run. Price crossed the EMA and ran the range for the bears.
PA lows reversed and started the second market range run.
and was followed by another LBOT FBO and a LH bear move to test the lows.
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