Wednesday, August 26, 2009

08.26.09 - AM Strength PM Weakness

Third day in a row. Cumulative Tick, Down Volume and the AD line all suggest a lower close as price pauses beneath the VWAP. On the other hand, certainly no one is running for the exits like the days of yore. Just need to watch how those internals evolve over the course of the day. The slow pace of movement will keep traders guessing whether this is a tradable top, or yet more consolidation for the "inevitable" SPX 1,050+ print.

3 comments:

Anonymous said...

I am actually seeing cumulative tick bottomed around 12:10 ? sellers are drying up as we approach 1022 jsut like buyers dry up above 1030.. doing a whole lot of nothing except generating commish for the boyz

Trader Kitteh said...

I am actually seeing cumulative tick bottomed about 12:10 pm? Sellers and buyers disappear with clockwork precision at 1022 and 1030 respectively.

Jeff Pietsch CFA said...

The boys gotta eat. Cum Tick steadily rising, albeit net negative (under zero with rising slope).