Thursday, February 26, 2009

Market Notes as of close Thu 26 Feb

  • Dollar (as tracked by UUP) over/under area (26.15) holds as support- potential test of Supply (26.25)- Value Area Sideways
  • USO previous gap filled after breakout- resulted in new up gap from 26-potential test of overhead supply after pullback met with buy response - Value Area Higher
  • IWM/SPY consolidation continues- IWM closes at consolidation low vs. SPY- Value Area Sideways
  • 10Yr Bond consolidation continues- Value Area Lower
TF
435 Supply/ 456 Overhead Supply
415 Over/Under
394 Demand

USO
26.25 Supply/30 Overhead Supply
25.90 Over/Under
22.85-23.15 Demand



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