Wednesday, June 2, 2010
All the hallmarks of a bullish trend day fell into place early in the session. With strongly positive tick and up volume on declining volatility, price looks poised to continue higher into the afternoon now that it has broken its 5-dma. Of course, the final hour has been volatile, so I'll be watching that closely -- but I do like this action going into jobs as a number of mildly bullish divergences in price and breadth have seemingly begun to assert themselves. By the same token, it will be slow and steady that wins the race for the bulls here -- too much at once will get faded.
Posted at 12:28 PM