Tuesday, January 13, 2009
Even as the Dow (DIA) and Nasdaq 100 (QQQQ) go sideways. Also, in spite of the blog title pattern, the S&P500 (SPY) has been challenged by its daily pivot at $87.60, which has proved key resistance. Although the level of advancers is strong, tick is fairly flat and is actually below levels commonly seen in the last twenty days. There just isn't a lot of steam behind this move. Maybe later in the day if we can hold it together. Meanwhile, watch that VWAP.