Friday, April 24, 2009

04.24.09 - Second Run

We are making a second run at the Monday gap lower on strong internals. Note how the five day moving average (dashed cyan line) is again moving higher. Interestingly; however, we have seen fewer extreme tick highs today relative to the last few days, and volume appears to be fading ahead of the "stress test" methodology release. This move makes us vulnerable to anything unexpected in that release, or even a sell the news phenom. We'll see soon enough, it's a small wild card -- for now the trend is obviously higher.

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