Monday, April 13, 2009

04.13.09 - Consolidation Trade

Price is showing nice resiliency ahead of significant news risk. Just one more example of the market's recent bullish behavior. Cumulative Tick and the A - D lines are moderately positively sloped and the VIX remains below 40. Nonetheless, the broad indices wouldn't look nearly as nice without the Financials more than pulling their weight. We'll see how far into the day this pre-earnings optimism can hold.

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