Monday, June 30, 2008

06.30.08 - Small Bounce to R1

We've got a small bounce up to R1 on this final day of the quarter and end to the first half (say SPY $128.85). We are pausing at this level as oil decides whether or not to continue to cooperate. Cumulative Tick is positive, but not overwhelmingly strong with the A-D line essentially flat. By the same token, all of the leaders are participating off of the morning lows.

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