Thursday, March 27, 2008

03.27.08 - Trying to Stabilize

The Cumulative Tick is running quite strong as the market's attempt to stabilize off of the weak economic news and poorly received Oracle results. We have made a fairly extended run to the five-day moving average + R1 on the SPY, which may be potential resistance. That early morning move down had me concerned, but it found support at yesterday's overnight lows.

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