Thursday, February 19, 2009

02.19.09 - Small Bounce at Prior Lows

The morning gap filled quickly on declining Cumulative Tick and Advance-Decline readings. After tagging the Volume Weighted Average on a brief recovery attempt, we have seen progressively weaker internals. However, just right now there has been a small bounce off of yesterday's lows and price is testing the daily Pivot (SPY $78.90). I had mixed market timing signals coming into the day.

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