Thursday, April 9, 2009

04.09.09 - Congestion Around VWAP

We have seen a relatively narrow lateral trade since the opening +2.6% SPY gap. Cumulative Tick and Advancing Volume are very positive and the stats warn against fading large gaps. On the other hand, the Advance - Decline line is tapering ever so slightly and this move puts us back up into near-overbought territory on a daily bar basis. Volume is hardly there, so anything goes. The VIX is at 37.5.

Intermediate- vs. Long-Term Trendlines:

Lots to think about this long weekend -- Enjoy!

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