Tuesday, June 1, 2010

06.01.10 Gap & Fill Inside of Rising Wedge

Internals have a moderate negative bias in spite of the early morning gap fill. The most bullish statement I can make just now, is that the slope of the heretofore declining five-day moving average has finally flattened out -- perhaps we see some noise around this level for some range formation in the days ahead. (Note: A rising wedge in a down market is considered bearish.)

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