Friday’s tragic events in Japan provided a sharp end-of-week contrast between U.S. Equities, which saw a small bounce, and International Indices, which finished the week in oversold status. However, with the short-term trend lower across the board, and with significant uncertainty remaining respecting the scope of damage and safety status of five nuclear plants in Japan, I’d expect a rocky road ahead with potential resistance at respective declining five-day moving averages if we do see an opportunistic fill attempt on tomorrow’s likely gap lower.
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