Tuesday, March 10, 2009

03.10.09 - Recovery Day on Strong Internals

The markets are sporting a remarkable advance supported by strong internals. A few small sparks on the tinder... Yesterday's decline looked more like apathy than anything else, featuring muted volume, a stable VIX, and generally balanced Up and Down Volume. Today we see strongly advancing Cumulative Tick/ Up Volume and an Advance - Decline Line pegged near 2,800 stocks. With price already up +5.5%-plus, however, traders will be watching the higher-high/low pattern very closely going into the second half of the day.

Commentary from last night's ETF Rewind Pro "Dashboard":

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