Tuesday, May 26, 2009

05.25.09 - Confidence Game

Equities exploded higher on the strong Consumer Confidence report, putting us into a nice trend day with Advance - Decliners, Up Volume and Cumulative Tick all running to the upside set against a lower VIX. As tempting as it may be to fade such a wide bar, professional traders will require evidence rather than risk getting run over by this strong tape.

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