Monday, March 30, 2009

03.30.09 - Down Trade Continuation

Friday's narrow range and slight sell picked up strong momentum in the Sunday futures on the GM CEO news leading into today's major gap down. And yet this really only puts us down a small fraction into the recent rebound range. While Cumulative Tick still looks very weak, (although there has been a series of higher-lows on the individual tick bars), the Advance - Decline line has been showing sings of stabilization since mid-morning. Will the emergent 'buy the dips' tendency assert itself to salvage the day?

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