February 14th, 2012 Market Recap, Gas Prices, and PCLN Breakout

After gapping down at the open the market slowly sold off into the afternoon and looked to be on the verge of its first 1%+ down day of the year until Greece rumors came through and caused a spike back to finish the day flat. For the details (and some humor) head on over to ZeroHedge. Intraday 1 min chart below courtesy of thinkorswim by TD Ameritrade.

Interesting fun fact today comes from last night’s SentimenTrader letter,

The S&P 500 has now gone 29 days without trading in negative territory for the year. That makes it the 14th-longest such feat since 1928.

Including today perhaps this is now the 13th longest run. :)

Other interesting piece comes from Zero Hedge (the main writer Tyler is a article producing machine, seriously), gas prices in January were at an all-time high. Considering the trend for the spring and into early summer is for prices to climb even higher I’d say it is not a bad time to be a hybrid owner!

With the flat close today I am only going to include an updated look at the S&P 500. I also have a chart of Priceline (PCLN) which yesterday broke out of a nearly one year base is boasting an ultra clean chart. Stay frosty out there.

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