Free Market Video Feb 01 2011

February 1, 2011 by  
Filed under Free Market Videos

Feb 1 – The first day of a new month and the bulls are right back at it. Yesterday’s move was just so-so but as I said in the video I REALLY wanted the overhead resistance levels we talked about to hold. Once we got back above those levels, though, it was off to the races once again and on to new highs. The move happened right at the open as the overnight markets took the easy road and simply gapped above the resistance levels to start the day. The 20 day moving averages were also taken back by the bulls which I mentioned was very important. With new highs being put in today the bears can only hope for this to turn into a large consolidation in order to keep their pullback hopes alive for the near future.

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