Thursday, December 20, 2007

12.20.07 - Can't Catch a Bid

All the comments from yesterday still hold. The day isn't over, but this market can't seem to catch a bid and this range is becoming dull.

Still, somewhat higher highs and lows have occurred over last several days. Maybe well see a mid-day recovery ala the recent pattern. Hope springs eternal this season!

12:53PM CST UPDATE: Promise I didn't know that pop was going to happen, nor had I seen any evidence of it right up to my post. No, I can't take credit for that one. What is it they say about rather being lucky than smart? Take it easy, Tick and A-D still negative.

1:42PM CST UPDATE: Hey, what do you know, back up to the five-day moving average on the SPY. Watch the rising VWAP as potential pull-back support/ trailing stop level. Still lots of "technical" resistance potential around here, but we've tested this often enough, maybe, just maybe it will break this go around. One thing is certain, tomorrow's expiration day will be quite a trip.


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