The Insightful Trader

Boring Day

by on Feb.16, 2009, under Market Commentary

Friday was a boring day, perhaps due to fact that we had a three day weekend coming up. If you missed the early move and resulting short opportunity about 11:00 the balance of the day was primarily  chopping around. We barely managed to hang on to our up trend line on the daily and as you can see below, our horizontal line on the 15min chart.

spx-15min-13feb091

   The net result was the DOW was down 82 points while the S&P500 dropped about 8 points. Obviously we’re still seeing a lack any substantial interest in buying, even at these levels, which can certainly be understandable considering the uncertain economic picture.

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