Wednesday, November 18, 2009

11.18.09 - Second Day of Consolidation?

Internals are running sideways with price on slightly negative sentiment.  It's possible consolidation here as short-term overbought readings cool off through time.  By the same token, we are seeing fewer new highs and the intermediate-MACD indicator again appears poised to roll over.  At the very least we can say we are at a momentum lull as traders look to gain a feel for the next break.

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