Wednesday, June 9, 2010

06.09.10 - Five-Day Moving Average Target

Achieved! We are riding that downward sloping line at the mid-day lull. However, internals are very strong and the possibility of a late afternoon continuation move may still be in the cards.

Update: Massive fail when VWAP couldn't provide support. Well, bear market rules and price action was classic; however, it was at odds with internals until very end there. Heavy trend to Pivot underway -- SPY $106. [Guessing we bounce there at least as a first reaction.]

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