Gold finally has a big up day without the backing of oil. Also in the news is a big oil find in the Gulf of Mexico. I took a good hard look at DVN today, but this wasn't the day. The rest of the market continued to have a bullish bias. The Dow was flattish, but the Russell 2000 continued strong.
Someone else made the observation that technical analysis is more like a wind sock than a crystal ball. If used properly it might also be a barometer, so folks can take shelter before the storm hits (usually the air pressure drops well before the rain and wind hit).
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