Wednesday, December 23, 2009

12.23.09 - Explosive Cumulative Tick (but no Volume)

After the morning gap close on the housing report, cumulative tick and the advance - decline line turned on a dime and exploded higher.  However, thus far price hasn't been able to do much with that and the SPY remains relatively flat-lined just above its green VWAP.  Perhaps we'll have a stronger second half of the day.  That said, usually not good to see both price and the VIX rise, which is exactly what we are seeing.  I probably don't need to mention it, but volume is the lowest in over a month - so anything goes really.  Meanwhile, all eyes in the trading room remain on SPX 1121.

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