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Wednesday, February 11, 2009

02/11/2009 Market Recap: Consolidation Day

The market consolidated on decreased volume today, the future direction is unknown.  Probably the rebound could continue tomorrow.

 

1.0.4 S&P 500 SPDRs (SPY 15 min).  The main reasons for the rebound tomorrow: Double Bottom plus some positive divergences.

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2.8.0 CBOE Options Equity Put/Call Ratio.  CPCE tested trend line, and tomorrow will be critical -- if the market goes down, most likely the trend line will be broken, and therefore a top will be confirmed.

image

1.3.7 Russell 3000 Dominant Price-Volume Relationships, 1368 stocks price up volume down, bearish.  However because of the typical consolidation pattern on the decreased volume today, I'd not read too much into this.

2 comments:

  1. Cobra,

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    http://www.investorvillage.com/smbd.asp?mb=6863&mn=5149&pt=msg&mid=6670881

    2c

    ReplyDelete
  2. Thank you 2cent. I got you. Nice chart!

    ReplyDelete

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