Wednesday, August 26, 2009

Morning Market Review 08/26/09

The market is staying in this small range just above 1018.

As the market tested the recent lows, $TICK was not confirming the lows, and gave us a bullish divergence.

The New Home Sales encouraged the market to continue its bullish bounce off of support. However, at 1032 we got a bearish $TICK divergence on decreasing volume. This sold the market back to the VWAP Line.


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