Tuesday, January 27, 2009

01.27.09 - Up Day on Down News

The markets are attempting to recapture yesterday's highs on very strong tick, advancing volume and an increasing level of advancers against a falling VIX (43). However, we are struggling to break the upper bounds above SPY $84.60 and have put in a short series of lower lows. Watch the rising VWAP (about $84.20), then Pivot ($84.00) for successive support if we can't break through.

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