Wednesday, May 5, 2010

05.05.10 - Minor Dip Recovery

Global cross currents continue to pull forward. However, the S&P 500 found early support at the SPY $116 level. Price has held above its rising VWAP since then, though it's hardly aligned with the heavy internals action [edit add: and the EOD forecast is ugly to Daniel-D's point]. The daily-bar odds call for added upside, but I'm keeping exposure light given this discrepancy and will happily play some sideways trade.

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1 comment:

Daniel said...

Your updating EOD-Estimator for SPY/Market is an invaluable tool, JP. We appreciate your sharing it w fellow investors.

Daniel