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Post Market Analysis, Tuesday January 12, 2010: Bearish

|Includes: AA, DIA, GLD, IWM, QQQ, SPDR S&P 500 Trust ETF (SPY), XLF

The markets pulled back today on worse than expected earnings from Alcoa (NYSE:AA). In fact, AA put in a nice Hanging Man Reversal Pattern. The VIX, TICK, and TRIN all confirmed the move. The Nasdaq (QQQQ), Russell 2000 (NYSEARCA:IWM), and Financials (NYSEARCA:XLF) were the weakest indexes today, which is a bearish sign as they are considered leading indexes. Stocks did finish the day with some strength, so I would not be surprised if this is just a temporary pull back in the making.


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