Tuesday, September 15, 2009

Morning Review 09/15/09

The market did find support at yesterday's Point-of-Control, which is also the overnight low.

Some caution signs for the bulls however. $TICK is failing to make higher highs.

The NYSE Advance - Decline line is also failing to make a higher high, and the TRIN is bearish.

As the market tested the overnight low, the $TICK did not make a lower low, which is slightly bullish. The market did bounce back to the 0930 ET open price, which is still resistance. The market then found additional support at the 50% correction.


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