Thursday, September 3, 2009

Morning Review 09/03/09

The market is experiencing a bullish bounce off of a test of yesterday's low.

A good reason to fade the test of the low is a nice divergence of the NYSE $TICK's 50-Period EMA on the 15-minute chart.

And both the NYSE Advance - Decline Line and TRIN are on the bullish side of their 10-day moving average. So far, the market gave us a nice 7 point bounce to the upside.


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