Planet Wealth

Today may well go down as a very important day, at least for the next month.  The market was able to stay above that important 1100 level today, although it started a bit shaky.  In the first half of the day, the market sold off on a rising dollar, however around noon both reversed.  The dollar started heading lower and the market started higher.  Remember, the last hour of the trading day is always the most important, so to see the market rally into the close is the most important news of the day.  There is an old adage (I'm getting older, so I know a lot of "old adages!") that in technical analysis, you need two closes above or below a certain level for confirmation.  Since we got that today, you will see some trades posted in the Trading Diary tomorrow!