Resistance ahead

Posted under American Options Trading, Rob Roy - Chief Trader by Rob Roy on Tuesday 2 February 2010 at 11:47 pm

The rally held for a second day, aided again by a weaker dollar.  There were more good earnings reports from CMI, WHR, ANN and UPS.  The interesting part was the commentary from the companies regarding the health of the US economy.  UPS said that it appeared the recession was over, although sales in the US were softer.....hmmm, doesn't seem to add up.  Their numbers were driven by stronger revenues from emerging markets.    WHR said that sales in the US were up as did ANN, which also gave good guidance.  The rally has some tough resistance ahead as it

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