Monday, August 31, 2009

08.31.09 - Asian Contagion

Internals are highly negative even though price has thus far found a floor near SPY $102 (10-DMA).  VWAPs are ruler flat and range is fairly narrow (same same with FXI).  On the other hand, so far all these intraday pullbacks have been bought into the close.  Clearly traders have to be wary of a break either direction.

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