Thursday, March 12, 2009

03.12.09 - Strong Trend Day

Though we are now well into overbought territory (very short-term technicals), with the Financials even more so, you can see from the cumulative tick and AD lines on today's chart how strong market internals are as we get an apparent second leg higher off of yesterday's consolidation trade. Next resistance for the SPY is $74.65.

Do check out the new 'live chat' feature on the Market Rewind blog, even if I'm not logged in, you can always use it as a comment drop box, as well as a community resource.

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