Adrian Abshire Stock Insights

Wednesday, July 20, 2011

DAILY MARKET ANALYSIS

 

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We are only about 50 points from the 2006 high @ 1586

I think we are going to bounce off the resistance at around

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Elder is showing green for last 2 days, notice the volume during the last big move UP was only average, actually the volume for the following down trend was stronger.  Fizzling RALLY may be in store.  We are hearing a lot of optimism in the news (Bloomberg and CNBC) but fear comes in with a vengeance. 

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