Thursday, December 4, 2008

12.04.08 - Pushing a String

Not a lot of directional move, but easy fades within the range. Watch for possible resistance as we come up to the VWAP, may have already bounced down by the time I hit 'publish.' Indicators are all over the map, so I'm more inclined to play both sides albeit with small size. I came into the day with negative expectations, but so far downside appears limited. Volume is so light, watch at the close though.

12:20PM PST - Lo and behold, down volume really picked up hard (as noted on twitter 12:07), and 5-DMAs have failed.

12:30PM PST - Support between SPY $83.50 & $84.00?

No comments: