Saturday, February 6, 2010

Index Data

Closing values for Friday, February 5, 2010:

Trend & Value 50:

988.30 (down .10%)

Large Cap Dividend Top 50:

986.89 (down .34%)

China Small Cap ADR 25:

865.21 (up .29%)

Precious Metals Complex:

4406 (up 3.51%)

BRIC Basic Materials:

890.88 (down .04%)

Wonder Dogs:

365.59 (down .07%)

Leaders of the Pack:

801.11 (up 2.59%)

Penny Banks:

928.18 (up 1.32%)

Foreign Blend:

5997 (down 24 pts)

General Liquidity:

973.75 (down .10%)


Yeah, there was a bounce Friday afternoon, supposedly short covering in anticipation of bailout announcement in Europe over the weekend. And yes the markets have been 'oversold' in the short-term. Yada, yada. The way I see it, the technical damage has been done. And that is of more importance than any rationalizations coming out of the bull camp. Take a look at this chart of the static version of the Foreign Blend: