I forgot about the rollover to the June contract this morning. The charts above are the June contract.
I didn't think that we would see much of an upward bounce with the NYSE Advance - Decline Line hitting -1700. However, the bulls considered this a buying opportunity as the $TCIK hit -800 on the test of the overnight low. We are now seeing a bounce to the downside as the market hit +800 on the test of the overnight high.
The period from mid-March to the first of May is usually bullish. So far, however, the market is having a hard time goin above the 01/11/10 high.
Charles
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