Thursday, March 11, 2010

03.11.10 - Heavy Range Day

Internals are fairly heavy today and it's the first time in a long while that I have seen a break in many of the daily-bar momentum elements that I track.  While price is hanging in there, at this time I see a lower high and low and am looking for that overdue back-and-fill to occur.  The market has been so resilient though, we'll just have to see.  I will also note that we are sitting on border-line "non-normal" levels of stretch from the intermediate mean.  This can be a good time to keep it small on either side until a cleaner break is observed.

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