Friday, May 22, 2009

The Kirk Report

The Kirk Report

The Saving Grace

Posted: 21 May 2009 04:03 PM PDT

As traders closed out their books ahead of the holiday, we filled Monday's upside gap and successfully tested the 20-day moving average.

S&P 500: 10/20 Day MA

The saving grace of today is that final hour rally back above last week's lows. Yet, we all know that this battle for control is likely to continue well after the upcoming Memorial Day holiday.

Speaking of which, I'll be away until Tuesday morning. I hope all of you have a wonderful holiday weekend!