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Rant & Rave Blog

The Market Reversed From An Opening Gap Higher To Close Lower

Posted by InTheMoneyStocks.com Tuesday, May 19, 2009, 08:00PM ET

Read 225 times

The Market Reversed From An Opening Gap Higher To Close LowerThe market rallied into the key 10:30am ET time frame prior to reversing and closing lower.  The downside was headed by Goldman Sachs and other financial firms.  The leaders continue to be commodities and oil as the dollar continues to get crushed.  Note the dollar action today as we saw a change in character.  The dollar when it fell always spiked the markets higher.  That continued. However, the change today that took place was that when the dollar traded sidesways for long periods, the markets tanked.  Watch to see if this continues in the coming days.  Volume today was very solid after yesterdays lightest volume day of the year.


RealTick graphics used with permission of Townsend Analytics, Ltd. ©1986-2009 Townsend Analytics, Ltd. All Rights Reserved. RealTick is a registered trademark of Townsend Analytics, Ltd.

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