Wednesday, April 29, 2009

04.29.09 - Light Volume Breakout

We have seen tremendous breadth in the A-D line, and Cumulative Tick and Up Volume this morning are as strong as we've seen in several days. However, the big move in advance of the FOMC statement only increases the possibility for high magnitude noise going into the afternoon session. I'll be watching the yield curve very closely post release ($TNX.X now higher on the day). I also note that the NASDAQ100 finally tagged its closely watched 200-day moving average earlier in the day.

No comments: