Tuesday, July 21, 2009

07.21.09 - Looking Toppy

The market has put in a mild pullback off its pre-market gap up near the June 11 swing highs. Semiconductors (SMH) are particularly weak (-2.34%), though the S&P 500 (SPY) has found support just above $94.60. Nevertheless, Cumulative Tick, the Advance - Decline Line and Down Volume continue on their negative path, potentially auguring a weak afternoon session.

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