Monday, July 6, 2009

07.06.09 - Struggling at Best

The market is struggling mightily near the June 23 lows. While the rate of decline is subsiding, we still see negative tick, A-D and down volume action. Interestingly, volume is the highest since that June 23 date as well. The Vix lies just over 30, up about five points from recent lows. However, note how the 200-day moving average of the SPY has provided a spring board. How is this for a "welcome back" from vacation!

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