November 17, 2008

Another Retest?

The pre-market is looking like we'll get another retest of the October lows. The G20 meeting this weekend amounted to a lot of nothing. The question now is whether the world can wait for two months for some sort of coordinated action by the world's leaders?

For today, the thing to watch is if the market can exceed last Thursday's close. If not, it was just a one day wonder and lower lows may be in the cards.

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