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The market gapped down on Friday after bad news from AIG and a new high of the Oil crude. The opening drop brought major indices at a weekly low, but buyers managed to fill the gap in just few minutes. The market spent the rest of the session in a choppy sideways action. This choppy environment is just a consequence of the persisting "buy-the-dip" action of the last time. There are still too many buyers around and this is not exactly healthy for major indices, because a deeper drop could offer a much more profitable entry point than now.
CSX Corp.(CSX)

rallied to a new all-time high seven bars ago. The stock is moving in a small bull flag on lower than average volume since then and could break out soon.
Chart Courtesy Of TeleChart Swing Trading, Technical Analysis, Daily Stock Market Commentary.

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