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Post Market Analysis, Wednesday February 10

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

 The broad market indexes finished the day with mixed results. The S&P 500 (NYSEARCA:SPY), Dow Jones Industrial Average (NYSEARCA:DIA), and Nasdaq (QQQQ) all finished lower by about .2%. The Financials (NYSEARCA:XLF) showed significant relative strength, closing up 1%. The Russell 2000 (NYSEARCA:IWM) finished fractionally higher to flat.

The market internals gave mixed readings, which is expected on a sideways day. The TRIN was bearish today. The TRIN/Q was mostly bullish. The TICK and TICK/Q corroborated the intraday action. Finally, the VIX dropped nearly 3%, but is holding up over 25.

On the daily chart of SPY we have a lower high and a lower low. Today's candle is also a doji. The upper shaddow of today's candle hit resistance at the upper trendline of the down channel. From here I expect a lower swing low, but none of the signals I am seeing are terribly decisive. Volume was also relatively normal today.

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