Friday, May 22, 2009

05.22.09 - Light Pre-Holiday Upward Bias

There is a gentle up-slope on today's Volume Weighted Average Price and there have been good trend and fade opportunities on both sides with yesterday's low trough and today's pre-session highs setting the range. While the bias has been mildly higher, at the mid-day we find ourselves back at that VWAP with a deteriorating Cumulative Tick and Advance - Decline slope. Probably just the mid-day lull with Up/Down volume fairly well matched and the VIX running laterally, we'll see.

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