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Evening Tape: Dip Buying & A Bad Economy

20 September 2012
by Ryan Mallory

The Chart of the Day...

2-important-charts-this-election

 Not trying to be political here... but geez...in trading terms we'd call that a "Sell-Off".

Quick Glance at the Market Heat Map and Industries

heat-map-9-20

Notables:

  • Technology still having a rough go of it. Financials led the way downward. 
  • Oil improved from recent days, but need to see more strength from it first. 

SharePlanner Compass:

Stock-Market-Compass-Full-Uptrend

Seeing pockets of buying and today as we bounced perfectly off of the 10-day moving average - Clear sign of dip buyers still at the plate. 

And of course...the RIDICULOUS!

This guy is the man! Being able to hold your breath for 5-minutes is amazing, much less walk underwater. 

 

 

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ryan1Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>

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