Tuesday, September 8, 2009

Morning Review 09/08/09

The market came within a half a point from the overnight low before bouncing to the upside.

We got 2, 3-wave moves this morning, both with a 50% correction. The 50% corrections ended near the 1.5 standard deviations around the 50-period EMA of the $TICK's (H+L+C/3) pivot.

Bullish momentum is weakening with the NYSE Adv - Decl Line making a lower high, and TRIN above its 10-period MA.

However, we do not have a $TICK divergence yet.


No comments:

Post a Comment