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Halftime Report, Wednesday December 9

|Includes: DIA, GLD, IWM, QQQ, SPY, PowerShares DB USD Bull ETF (UUP), XLF

So far stocks are mixed. However, the VIX is dropping (down 1.3% at the moment), Gold (NYSEARCA:GLD) is up .2%, and the Dollar (NYSEARCA:UUP) is down .13%. These three readings, provided they do not reverse, should provide stocks with some slight upside support. At the same time, Timothy Geithner wrote a letter to House and Senate leaders stating that the financial bailout plan will be extended to the Fall of 2010.

The TICK is making is way towards bullish territory. The TRIN and TRIN/Q are both bullish. The Only index I am worried about is the Russell 2000 (NYSEARCA:IWM). Currently, IWM is down .9%. As I write this it appears as if IWM could be breaking down out of a symmetrical triangle it has formed so far on the session.


It will be interesting to see how the markets hold up (or not) today. This could be the beginning of a down leg, but I am not ready to call that. Check back this evening for your Post Market Analysis. Thanks for being a part of! Always trade with a stop loss and manage your risk appropriately.

Happy Trading,