Monday, May 16, 2011

Open

A bit of a strange opening

We were gapping down about 5 points and then we got a nice little bounce. at the open we lost it, but not down to the overnight lows. The $TICK flushed to an early -750 and we rejected the early push down

The market appears to still be shaking off the cobwebs here, deciding what it wants to do next. Breadth is -1100, so there is a bearish overhang. Price doesn't seem too concerned yet, and as I finish this post, we are trying to bounce.

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