Wednesday, October 14, 2009

10.14.09 - Price Resistance on Strong Internals


I note that the SPX is struggling to surpass 1,085 at the mid-day even though internals are looking very strong and my Market Sentiment Indicator has pegged 100%.  I therefore suspect for now we could still leg up higher later in the day, maybe off that VWAP tag.  The market is obviously very strong, but I wonder what will happen once we close the early October gap from one-year ago.

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