Wednesday, March 7, 2012

Chopperific

No fade to speak of, and after a breakout of the first 90 minutes of range, we've just been chopping around going nowhere fast.

The ultra-short term oversold reading into yesterday's close got it's move, but the Bulls still have work to do to get this back in the right direction on the short term.

The gap fill from yesterday is a good first start. The QQQ already got there, and the IWM is back above it's 50 day

Good breadth reading here suggests that the dip buyers were in the house early, but the question now is do they stick around to the close?

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