Thursday, June 25, 2009

06.25.09 - Powerful Markup

Right out the gates, equities quickly recovered on improved GDP readings after the small initial jobless claims gap lower. We have not looked back since for a strong markup right up to R2 on the SPY and QQQQ, which is proving stronger resistance for now. Meanwhile, Cumulative Tick, Advancers - Decliners and Up Volume remain very strong and up trending with the VIX near 27. I'll be keeping a close eye on those indicators throughout the day for signals to re-hedge, if warranted.

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