Tuesday, December 15, 2009

12.15.09 - Negative Catalysts + Overbought

Internals are mildly negative with the Financials seemingly struggling the most.  However, selling pressure looks modest and the relative match of down and up volume suggest a range-bound day for the time being.  However, I will note that volume is fairly strong, indicating a possible squaring of positions going into the Fed day.  Therefore, watch that momentum doesn't sneak up on you in either direction (the concern being to the downside here).

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