Monday, January 26, 2009

01.26.09 - Support above R1

The S&P500 has found support above its broken resistance line of $84.40. This leaves the five-day moving average headed upwards for the first time in about eleven trading days. However, we have some mixed market internals with the VWAP flattened and the Advance-Decline line trailing even as Tick and Advancing Volume continue to increase.

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