Thursday, August 21, 2008

A futures driven day.

Market was dealt the wrong day ( as far fundamentals & news) for a range extension to the upside by the longer timeframe players. Nevertheless, they found a way to do it. The day type so far is the normal variation of a normal day. We have found ourselves now all the way from the low value area to 1.8 times the initial balance. It was a rally led by the futures market.

If you noticed the market parameters, the future market dragged the Market Trin with with (in other words, the equities had no choice but follow the futures market). The futures rally off the lows was fairly broad based. It was clearly a day when longer term players took control of the market.

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