Wednesday, May 27, 2009

05.27.09 - Consolidation Trade

Price has held remarkably level on the housing data, choosing to focus on the increase in sales rather than inventory for sale. VWAP has a mildly positive slope and internals have been mostly cooperative. However, at the mid-day, I note an apparent bottoming to the VIX just under 30 and a possible turn in Cumulative Tick. It could just be a mid-day pause, but I'll be keeping a close eye on those.

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