Tuesday, November 3, 2009

11.03.09 - Potential Higher Low?

The opening lows held on their first retest, prospectively marking a higher low.  However, to maintain that outlook, internals are going to have to turn it around here, as they remain marginally negative.  The Semis (SMH) are having a particularly difficult time.  Tick is putting in some higher [corrected] lows just now, let's see if the SPY price break above the VWAP can take hold.  With VIX slowly moving higher, that may be an optimistic thought.

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