Monday, March 3, 2008
Looks like we are trying to put in a bottom along the rails of this recent trading range. A-D line is flat lined while cumulative tick remains slightly down sloped. Watch out for resistance at today's pivot (SPY $134). We are technically oversold, but volatility has a lot of room to move if pushed.
Blog to Read: Vix & More - McClellan
2:50PM CST UPDATE: I am getting signals for a short-term bullish edge based on the number of Dow components at multi-day lows over a given period of time. Sorry, I can't disclose the precise formula. However, the idea is not unique and it is easily researched. The contrarian sentiment signal has also triggered.
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Posted at 12:23 PM