Friday gradual drop all day and accelerated selling late day upon credit concerns closed our week out very weak and red across the broader markets. Fridays drop was on heavier volume than we had on Thursday leaving a distribution day across the broader markets. However, our weekly volume was slightly under the prior weeks. Crude closed down $1.43 at $75.43 on the day. Gold rallied $5.40 on the day to close at $670 an ounce. So the daily chart is pretty much in-line with the SPX a touch worse. 60 minute charts support the bounce thinking, [...]
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[Source: The Money Blogs]
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