Tuesday, August 5, 2008

Market rebounce ahead rate decision


8/5/08

1250 of S&P indeed is good support with uptrend line. Market got bounce and trade above 1265 as of now. XLF is trading barely below the resistance. XLE got technical oversold rebounce but not to be bullish. However, the day half over and the important FOMC decision is coming soon. Let see how market behave at the close of today.

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