Tuesday, March 31, 2009

03.31.09 - Mid-day Doldrums

Half way through the last day of the quarter, the morning recovery has stalled at the rising Volume Weighted Average Price and internals, while still net positive, are also headed sideways. In particular, the NASDAQ 100 had difficulty breaking past its first level of resistance even as the Financials also put in a contemporaneous double top... and here we are.

As BZB Trader pointed out in the Chatroom; however, as long as we don't completely roll over here, we may just be seeing a mid-day lull. We get a number of "creme de la creme" bloggers in the chat room from time to time. Why not check it out for a day? No charge, just an open exchange of ideas and market views. The more the merrier!

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