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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.


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.


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.


  1. Cobra,

    The only way I can communicate a chart to you is through one of my post


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



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